The Source for Cyber Insurance News, Insights and Data
“We’ve come a long way in our journey from the first ever cyber cat bonds, which were private, we’ve now got three 144A cat (catastrophe) bonds out there covering the cyber risks,” said Richard Gray, Head of Third-Party Capital at Beazley in this report from Artemis, a provider of information on insurance catastrophe bonds and … Read more
Marsh has introduced Cyber Echo Encore. This is an enhancement to its Cyber Echo insurance facility. The expansion provides up to $45 million in additional cyber insurance capacity. The cyber risk protection is underwritten by London market insurers outside of Lloyd’s. Broader Coverage Beyond Lloyd’s Market Lloyd’s launched Cyber Echo in 2016, making it the … Read more
Demand for cyber insurance-linked securities (ILS) products should increase and there’s plenty of room for growth given their relatively low volume compared to similar securities linked to natural events, says Fitch Ratings, a major provider of credit ratings and analysis. “These (recent ILS) transactions of $145 million are a small fraction relative to the $10 … Read more
A new report from SecurityScorecard reveals some interesting details about third-party cyber risks in insurance. Among them, 59% of insurance industry breaches stem from third-party attack vectors. These findings underscore vulnerabilities in the supply chain that expose critical policyholder data to cyber threats. The study analyzed 150 top insurance firms, revealing an industry struggling with … Read more
Insurance wholesaler ProWriters, a digital distributor which has made a push in cyber insurance, is exploring a potential sale of its business, reports Insurance Insider US. Insurance M&A specialist Dowling Hales is advising ProWriters, according to the article. ProWriters offers several categories of cyber insurance, including E&O, CGL & D&O. It generates revenue of app. … Read more