The Source for Cyber Insurance News, Insights and Data
Moody’s RMS, a leading provider of risk modeling for the insurance industry, has formed the Cyber Industry Steering Group, designed to address underwriting and other constraints in the cyber insurance sector. “There is a clear need and a significant opportunity to accelerate growth in the global cyber underwriting market. However, there are many legitimate concerns … Read more
SecurityScorecard generates the equivalent of a credit score for a company’s cyber security (see below). Measured Analytics and Insurance will use (good) cyber scores to provide coverage discounts, as well as identify needed security improvements. This marks another partnership between insurance carriers and security tech providers, from assessment specialists such as SecurityScorecard to vendors of … Read more
Risk Placement Services (RPS), a national brokerage, calls itself “brokers in bold.” It recently presented its quarterly cyber update, including a report and presentations by RPS’ Steve Robinson, national cyber lead, Vice Presidents Tim Foody and Zach Kramer, and Jennifer Coughlin of Mullen Coughlin, “a law firm uniquely dedicated exclusively to representing organizations facing data … Read more
The risk analytics provider to the cyber insurance industry warns about scenarios that could impact the already confused world of cyber war risk and exclusions. Its new report — “CyberCube’s Global Threat Outlook: A Perspective on the Threat Landscape for Q4 2023” — urges re-insurers and those in the ILS markets to consider its findings … Read more
So says a new Forrester report. “While Forrester data showed that most enterprises had some kind of cyber insurance coverage, only 26% had a standalone policy.” Read more here. This contrasts with reports, such as this one from AM Best, that “(m)ore than 70% of cyber premium is written on standalone policies…” The gap may … Read more