The Source for Cyber Insurance News, Insights and Data
Cyber insurance premiums will grow “15% to 20% per year to a total of about $23 billion by the end of 2026, up from about $14 billion at the end of 2023,” estimates S&P Global Ratings report “Cyber Insurance Market Outlook 2025: Cycle Management Will Be Key To Sustaining Profits.” [Don’t tell Swiss Re, which … Read more
You’ve seen plenty of reports on how hackers are leveraging AI to commit cyber crimes while insurers are using the technology to improve underwriting and customer service. Now experts report risks from AI are prompting stand-alone cyber insurance policies covering losses by users of the evolving technology, a market Deloitte predicts could grow at a … Read more
As cyber criminals increasingly leverage AI for everything from phishing scams and blackmail to misinformation campaigns and election interference, businesses face new threats that require innovative defenses. In response to AI-driven cybercrime threats, AXA XL has unveiled a new endorsement to its cyber insurance coverage, specifically targeting the risks associated with Generative AI (Gen AI) … Read more
We’ve been telling you about the theats posed to cyber insurers by AI — now the technology is coming to help, in the form of a vertical AI from EXL (NASDAQ: EXLS), the data analytics company. The company’s new “EXL Insurance LLM” is a specialized large language model (LLM) tailored for the insurance industry and … Read more
The Company‘s new business unit, Envelop Risk Solutions, will provide technical assistance to reinsurance providers “across the full capital management spectrum, including: cyber underwriting and underwriting strategy, cyber modelling, scenario modelling, capital metrics, cyber market analytics, new product development, threat intelligence, reinsurance operations automation, and global cyber risk forecasting.” “We have developed advanced capabilities to … Read more