The Leading Source for Cybersecurity Insurance News, Insights and Data
It’s been a “PR disaster” says the CEO of managing general agent (MGA) CFC, which has a Lloyd’s syndicate. The Lloyd’s announcement caused “panic” by making insurance buyers think that…
At-Bay reports the policy pricing cycle turns much faster for cyber coverage than many other kinds of risk. “Based on our data and exemplified in the chart above, there is…
Read More “Watch Out: The “Hard Cyber Insurance Market” Is Coming Back, Says At-Bay” »
“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…
Read More “Cyber Insurance Becoming Buyer-Friendly: Aon. Really & Will It Last? ” »
“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…
Read More “Policy Holders Reducing Self Insurance & Buying More Cyber Coverage: Marsh” »
The practice says it was hit by a ransomware attack days after its coverage lapsed. “Gallagher had been working with Raleigh Radiology for months before the lapse to renew its…
Read More “Oops: Radiologists Sue Broker Over Lapsed Cyber Insurance Policy” »
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…
Read More “The Nightmare of a Ransomware Attack, Community Bank Version ” »
“‘Our research highlights that consumers are increasingly aware of the dangers of being online and are looking for a simple and easy all-in-one solution to keep them digitally safe,’ said…
“(O)verall claims frequency decreased by 22% year-over-year. Furthermore, Coalition policyholders experienced 64% fewer claims than the broader cyber market1, with 47% of reported events handled with no cost to the…
Stand-alone policies reflect growing acceptance of cyber as a unique and critical category requiring more complex underwriting by carriers and increased attention from policy holders. “Standalone coverage is 70% of…
Read More “Most Cyber Insurance Premiums Now for Stand-Alone Coverage: Fitch” »
“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:…
Read More “Mosaic: We’re Going Global with Primary Cyber Insurance ” »