Skip to content

Cyber Insurance News

The Leading Source for Cybersecurity Insurance News, Insights and Data

Brit Ltd Launches Brit Cyber First50 to Streamline Large Cyber Insurance Placement

Posted on March 19, 2024March 19, 2024 By Martin Hinton

Brit Ltd announced the launch of Brit Cyber First50, a new initiative designed to simplify the placement of large cyber risks for institutional clients with revenues exceeding $10 billion. The program introduces a $50 million Primary Lloyd’s Consortium, led and managed by Brit, to address the increasing demand for efficient cyber insurance placement amid rising cyber threats.

Cyber First50 responds to the need for higher cyber coverage limits, reflecting the growing frequency and severity of cyber losses. By providing a primary $50 million limit through a single quote, the consortium aims to speed up the insurance placement process for large corporates, eliminating the need for brokers to navigate multiple quotes, markets, and claims parties.

“Evolving Threat”

Jon Sullivan, Group Chief Underwriting Officer at Brit, emphasized the company’s role as a leader in the cyber market and its focus on meeting client demands through the creation of relevant products. “Launching Cyber First50 is part of our commitment to enhance capacity within Lloyd’s for large-scale cyber risks,” Sullivan noted.

Adam Taylor, Brit Cyber Class underwriter, pointed out the critical nature of cyber threats to large corporations and the growing necessity for higher insurance coverage limits. “Cyber is a constant and evolving threat to large corporates and, as the prevalence of cyber risks grows, so too does the potential detriment it can cause to businesses, requiring large global firms to increasingly seek higher coverage limits,” Taylor stated.

This initiative is set to make the cyber insurance procurement process more efficient for brokers while providing clients access to Brit’s claims service. By streamlining the placement into a single consortium-led quote, Brit Cyber First50 aims to improve the insurance industry’s capability to support corporates in an evolving cyber risk environment.

Source: Brit launches Brit Cyber First50 to expedite placement of large cyber risks.

Other News: Wall Street Journal on Cyber Insurance and Acts of War (Opens in a new browser tab)

Cyber Insurance Tags:Brit Cyber First50, Brit Ltd, cyber insurance, Cybersecurity

Post navigation

Previous Post: Howden and Cyberwrite Partner to Revolutionize Cyber Insurance with AI-Driven Risk Management
Next Post: Does NIST CSF Adoption Reduce Cyber Insurance Premiums? New Survey Indicates It Does

Related Posts

  • Lloyd’s Market Association Releases Framework for Systemic Cyber Risk Mitigation Cyber Insurance
  • Google Predicts Stable Cyber Insurance Premiums in 2024 (+ more “Pig Butchering”) Cyber Insurance
  • Cowbell Partnership Makes its Cyber Insurance Easier to Buy Now, Harder in Future if Markets Change Cyber Insurance
  • Ruh Roh! Swiss Re Predicts Dramatic Decline in Cyber Insurance Growth Rates Cyber Insurance
  • Better Late Than Never & Better Insured Than Not: NY Town Announces Hack & Expected Recovery from Cyber Insurance for Government Cyber Insurance
  • Canopius Strengthens Cyber Insurance Team with Chris Getty Appointment Cyber Insurance

Get the Cyber Insurance Newsletter

Receive weekly updates on the top news on cyber insurance.

Cyber Insurance News

Cyber Insurance News
In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

🔗 Learn more about Cork: corkinc.com
🎧 Full Podcast Episode: www.youtube.com/@CyberInsuranceNews/podcasts

📣 Don't forget to LIKE, SUBSCRIBE, and hit the 🔔 notification bell so you never miss a powerful conversation.

#Cybersecurity #SmallBusiness #MainStreet #DanCandee #CorkProtection #TechForGood #SMBs #PodcastClip #CyberThreats #BusinessSecurity
Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
Cyberattack on Small Business is on the rise—and AI is making it worse. In this episode of the Cyber Insurance News Podcast, host Martin Hinton sits down with William Altman of CyberCube to unpack how AI is enabling threat actors to more efficiently target and exploit small businesses.

🔐 From credential stuffing to brute force attacks, William explains how cybercriminals use AI to bypass login portals and MFA solutions—putting millions of small business owners at risk.

🎙️ Timestamps:
0:00 - Introduction
6:26 - William Altman on AI and threat actors
6:50 - Credential stuffing, brute force & reused credentials
10:00 - What small businesses can do right now
14:20 - The future of AI in cybercrime

🎧 Don’t miss this crucial update on the cybersecurity landscape for small businesses. Subscribe and stay informed.

#cyberattack #smallbusiness #AI #cybersecurity #CyberCube
Cyberattack on Small Business: How AI Supercharges Cyber Threats | William Altman @CyberCube"
Load More... Subscribe

Categories

  • 8-K
  • AI & Cyber Insurance
  • AI & Cybersecurity
  • Critical Infrastructure cyber insurance and security
  • Cyber Cat Bonds/Cyber Catastrophe Bonds
  • Cyber Insurance
  • Cyber Insurance APAC
  • Cyber Insurance Best Practices
  • Cyber Insurance Captive
  • Cyber Insurance Carriers & Brokers
  • Cyber Insurance Claims
  • Cyber Insurance EU
  • Cyber Insurance Financial Institutions
  • Cyber Insurance for Government
  • Cyber Insurance for Healthcare
  • Cyber Insurance for Schools
  • Cyber Insurance for SMEs/SMBs
  • Cyber Insurance For Startups
  • Cyber Insurance for Utilities
  • Cyber Insurance Geographic Markets
  • Cyber Insurance Industry Groups
  • Cyber Insurance Investments and M&A
  • Cyber Insurance Jobs
  • Cyber Insurance Laws & Regulations
  • Cyber Insurance Litigation
  • Cyber Insurance Market Size
  • Cyber Insurance MENA
  • Cyber Insurance News & Information Podcst
  • Cyber Insurance People
  • Cyber Insurance Policies & Strategies
  • Cyber Insurance Premiums
  • Cyber Insurance Reports
  • Cyber Insurance Settlements
  • Cyber Insurance Sunday – Upload
  • Cyber Insurance Systemic Risks
  • Cyber Insurance Tech
  • Cyber Insurance Threats
  • Cyber Insurance UK
  • Cyber Insurance Underwriting
  • Cyber Insurance Wholesaler
  • Cyber Regulations
  • Cyber War Exclusions
  • Cybersecurity
  • Cybersecurity and Credit Ratings
  • Cybersecurity for SMBs
  • Cybersecurity in Education
  • Cybersecurity Investment
  • cybersecurity jobs
  • cybersecurity M&A
  • Cybersecurity people
  • Cybersecurity Report
  • Cybersecurity Training
  • Department of Homeland Security
  • EU Cybersecurity
  • Insurance Linked Securities/ILS
  • Insurance Loss Warranty contract/ILW
  • Managed Service Providers
  • National Association of Insurance Commissioners' (NAIC) model cybersecurity law
  • Non-criminal Claims/Non-Malicious Claims
  • Opinion/Commentary
  • Personal Cyber Insurance
  • Personal CyberSecurity
  • Ransomware Insurance
  • Reinsurance
  • Risk Modeling
  • SEC Cyber Disclosure Rule
  • Small Business
  • Supply Chain Cybersecurity And Insurance

Send Ideas, Requests & Comments




    Tags

    AI AI in Cybersecurity Artificial Intelligence At-Bay Beazley CFC Chubb Cloud Security Coalition Corvus Cowbell Cowbell Cyber crowdstrike cyber attack Cybercrime CyberCube cyber insurace cyber insurance cyberinsurance cyber insurance for small businesses Cyber Insurance Market Cyber liability Insruance cyber liability insurance cyberliabilityinsurance Cyber Resilience Cyber Risk Cyber Risk Management cyber security Cybersecurity cybersecurity insurance Cyber threats Data Breach Data Breaches Howden Lloyds Marsh Microsoft personal cyber insurance phishing Ransomware Ransomware Insurance Resilience Risk Management SecurityScorecard small business
    • Cyber Insurance Books
    • Cyber Insurance Reports & Documents
    • Cyber Insurance Acronyms/Terms
    • Cyber Insurance Companies: Carriers, Brokers & Vendors
    • Industry Response: Potential Federal Insurance Response to Catastrophic Cyber Incidents
    • Ransomware Insurance
    • How Much Is Cyber Insurance?
    • Considerations for Buying Cyber Insurance
    • Cyber Liability Insurance Near Me
    • Cyber Insurance Quote
    • Newsletter
    • Legal Analysis & Full Text of 2023 SEC Rule: Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure
    • Glossary
    • About Cyber Insurance News
    • Privacy Policy

    • Cyber Insurance Carriers Increase Role in Incident Response and Not Everybody’s Happy  Cyber Insurance Best Practices
    • Hike in Cyber Insurance Rates May Not Match “Catastrophic” Risk for Carriers: Chubb CEO  Cyber Insurance Premiums
    • University of California System Sues Lloyd’s Over 2014 Hack  Cyber Insurance for Government
    • Could a Fed Backstop for Cyber Insurance Harm the Industry?  Cyber Insurance Best Practices
    • Bermuda’s Cyber Insurance Market Growth Amid Rising Cyber Risks – Report Cyber Insurance
    • Navigating the Uncharted Waters of Cyber Catastrophes: Chubb’s Approach Cyber Insurance Carriers & Brokers
    • 20% of Nation’s Population Has Data Stolen in Hack: Report  Cyber Insurance Threats
    • Chubb Partners with NetSPI to Bolster Cybersecurity Defenses for Policyholders Cybersecurity

    Related Cybersecurity Sites

    http://www.whatiscyberliability.com

    https://www.whatiscyberinsurance.com

    http://www.ddosattacktutorial.com

    http://www.ransomwareremovaltool.com

    Our Privacy Policy: https://cyberinsurancenews.org/privacy-policy/

    Copyright © 2024 Cyber Insurance News.

    Powered by PressBook Premium theme