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Interesting note: Prices for non-cyber financial and professional lines decreased during the same quarter. “Cyber insurance pricing increased 48% in the third quarter, compared to 79% in the prior quarter….
CyberCube says it’s offering the first detailed Industry Exposure Databases (IED), which allow (re)insurers and brokers to quantify real-time cyber risks. “The first release of CyberCube’s Exposure Databases focuses on…
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition,…
Read More “Re to the Rescue: BDT Capital Forms “Ferian Re” with Cyber Insurer Coalition ” »
“’We’ve been seeing the cost of cyber insurance increase for years now, but this year it went to a whole new level,’ said Michael Zurlo, president of the New York…
Read More “Local Governments Struggle with Hikes in Cyber Insurance Premiums ” »
It’s possible the stark difference might be due to different starting levels of commercial versus personal policies…but the stats do indicate the growth of personal cyber insurance. “From June 2021…
“According to a report released by Marsh LLC last week, average cyber liability rates increased 54% in July compared with 133% in December 2021. Cyber rate increases are slowing but…
Read More “Growth of Cyber Insurance Rates Slows — But Premiums Still Going Up ” »
“’So I think we should have reference standards appropriate for SMEs that would be a real target for them to know what they should do to implement cybersecurity. If we…
Read More “Europeans Want to Beat US Regulators to Cyber Standards that Support Insurance ” »
Resilience CEO Mario Vitale recounts how his company found a vulnerability in the system of a client…and the client was still procrastinating about fixing the problem when the policy’s renewal…
Read More “Some Shrewd Underwriting in a Complicated Market” »
Growth of cyber reinsurance is limited by inadequate risk assessment tools and capital limitations… “Cyber limits have contracted, and insurers have significantly increased rates so the profitability of the portfolios…
Read More “Reinsurers Face Challenges in Cyber Insurance Market ” »
Concerns include clauses provided by Lloyds that define a “primary but not exclusive factor” for triggering an exclusion as a national government confirming it’s been hit by a nation/state cyberattack….
Read More “Worries About Implementing Lloyd’s Plan to Exclude Acts of War from Cyber Insurance ” »