The Source for Cyber Insurance News, Insights and Data
“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
A new CEO has joined Lodestone, a wholly-owned sub of Beazley. The insurer has a ready-made client base for Lodestone, suggesting vertical integration of cybersecurity solutions — services to insurance — could be a model for other carriers. “(Alton) Kizziah will focus on expanding the senior leadership team, adding specialized skills and expertise to extend … Read more
The report focuses on how cyber insurance applicants can avoid future claims nightmares by answering underwriting questions accurately. It also suggests applicants carefully consider the interaction of cybersecurity coverage with related exposures such as the protection of personal information. But a more fundamental issue exists, suggest one cyber insurance claims officer. “James Berry, London-based chief … Read more
Electric vehicles and their infrastructure will create new complexity for insurers. What if a hacker creates a massive car crash? Or a grid is taken down by malware originating in an EV being charged? “In a bid to get the issue under control, insurance companies and EV manufacturers could standardize best practices as a way … Read more