The Source for Cyber Insurance News, Insights and Data
Asset manager Stone Ridge entered into $100m deal with Hannover Reinsurance relating to cyber insurance exposure. “In the statement, Ross Stevens, CEO of Stone Ridge, said the company expects higher than average investment returns from cyber insurance investments and low correlation with other investment risks. ‘We intend to meaningfully grow our cyber exposure throughout 2023 … Read more
Patricia Riederer, property product analyst with American Family Insurance, does a fine job of explaining it. “’Personal cyber insurance typically covers costs to hire a professional to reinstall your computer’s operating system and restore backed-up data,’ she tells PropertyCasualty360.com. ‘ID theft insurance provides coverage when someone wrongfully obtains and uses your personal information to commit … Read more
We recently wrote about the market anticipation of a trade-able 144a Catastrophe (“Cat”) Bond. Now Beazley, a London-based specialist insurer, has launched something related, the first-ever cyber catastrophe bond. The $45 million bond gives Beazley indemnity for all risks in excess of a $300 million catastrophic event and is backed by a group of insurance-linked … Read more
To get cyber insurance, companies increasingly must adhere to certain security requirements. Multi-Factor Authentication (MFA) is perhaps chief among them. MFA adds an additional layer of authentication and makes it difficult for attackers to gain access to user data. This useful article discusses relatively fast and most cost-effective paths to connecting all your self-hosted apps … Read more
144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.” “’While there have been a few private cyber ILS transactions in the past, the industry is still waiting for the first 144a cat bond,’ Brittany Baker, vice … Read more