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American International Group Inc (AIG.N) boosts cyber premium rates almost 40% globally and is now reducing coverage limits. “We continue to carefully reduce cyber limits and are obtaining tighter terms…
Read More “AIG: We’re Reducing Cyber Insurance Coverage Limits as Our Premiums Jump 40% ” »
A July 2021 survey by the Chartered Insurance Institute (CII) highlights a lack of training among insurance personnel involved with cybersecurity policies. “Almost six out of 10 insurance professionals polled…
Most consumers don’t know personal cyber insurance is available, according to the team behind “The Digital-Life Insurance.” The solution includes an AI chatbot to create a digital fingerprint of customers…
Read More “New Personal Cyber Insurance Offered by Connected Insurance & Swiss Re ” »
Hiscox Ltd (LSE:HSX) lists increasing cyber insurance rates as part of its turn to profitability in the first half of 2021, according to its 2021 interim and Chairman’s statement. “Rate…
Read More “Ramping Cyber Insurance Premiums Help Hiscox Hit Profitability in H1 2021 ” »
Makes more sense when you learn the company says it’s passed $160 million in ARR and 800% YOY premium growth. Source: Cyber insurance startup At-Bay raises $185 mln at $1.35…
Read More “$1.35 Billion Valuation for AT-Bay as It Raises $185 million ” »
Chubb Ltd. CEO Evan Greenberg worries: “The pricing environment is pretty good…(But) that is not addressing by itself, the fundamental issue…. Like pandemic, cyber has a catastrophe profile to it.”…
The solution comes from TechAssure, a non-profit consortium of insurance and risk mitigation companies, which has teamed with RiskAnalytics and ICE Cybersecurity to provide the program. “The missing piece in…
Cyber insurance companies may urge clients to pay ransoms because insurance losses from not paying may be more than the ransom demand. “(E)ven when companies do want to hold out,…
Read More “The Squeeze Between Ransomware and Business Interruption Insurance” »
The companies are: AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers. The mission of newco CyberAcuView is: “to (1) help the insurance industry provide better value and…
The insurance industry has failed to keep up with the cyber risk environment, says the Royal United Services Institute for Defence and Security Studies in a June 2021 report. It…