The Source for Cyber Insurance News, Insights and Data
“David Molony, Head of Aon’s Cyber Solutions for EMEA, acknowledges the significant shift in market dynamics, stating, ‘Where businesses were constrained by availability in 2021 and into 2022, it is now vastly different. Instead, buyers should now be looking at mitigating their exposure — taking advantage of the market at the expense of sacrificing coverage … Read more
“Clients generally continued to increase their self-insured retentions (SIRs) early in 2022. As the market improved and pricing stabilized throughout the year, there began to be a decrease in SIRs as coverage became more available and affordable, a trend that has continued into 2023, according to the report.” Stricter policy language, pricing increases and more … Read more
This interesting report provides the “tick tock” of a ransomware attack on a small US bank, including the role of cyber insurance in the recovery. The details reveal the bank did not require email MFA prior to the incident. It was able to keep processing debit cards only because that system was operated by an … Read more
“Mosaic has announced it will be underwriting primary cyber insurance globally, offering US$20 million in capacity across its network of underwriting hubs…Yosha DeLong, global head of cyber at Mosaic, says: ‘We’re excited to offer a primary cyber insurance solution across all Mosaic’s underwriting regions. We have always had the vision of being a primary solution … Read more
“Misreporting about the LMA (Lloyd’s Market Association) exclusions – specifically that Lloyd’s war exclusions do not cover state-sponsored cyber attacks – has been “deeply unhelpful,” said Andrew Hill, global head of Cyber Coverage & Innovation at WTW, who moderated a panel on the LMA cyber war exclusions at the Zywave Cyber Risk Insights London Conference … Read more