The Source for Cyber Insurance News, Insights and Data
“When we identify downtime, we pay out for the customer immediately. Any loss is covered. Unlike traditional insurance where you have to file a claim, in this case, there’s no claim process,” she (co-founder/CTO Neta Rozy) said. Source: Parametrix cloud downtime insurance business is growing – Protocol
“Developed in collaboration with (Periculus and) TIP National, the offering allows small and medium-sized businesses to instantly request a quote, purchase, and manage a cyber insurance policy customized to meet the needs of the business.” Source: Periculus, TIP National partner in new cyber insurance offering | Insurance Business America
“Globally, commercial insurance rates increased by 9% on average in the quarter, he said. In North America, commercial rates increased 8% overall, with retail property insurance rates rising 14%. Lexington, AIG’s excess and surplus lines business, saw rates rise 13% and financial lines increased 12%, including an 85% rate increase for cyber liability…” Source: AIG … Read more
“Munich Re is planning new wordings in cyber insurance policies to exclude war, to avoid disputes over what is covered, the reinsurer’s top cyber underwriter told Reuters.” Source: Munich Re tightens up cyber insurance policies to exclude war | Reuters
“Coalition continues to expand its capacity relationships and cyber insurance business in a market that is highly dynamic. Coalition year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 140,000+ customers. Coalition’s run rate GWP (gross written premium) now exceeds $650 million, as the company achieves high growth at scale.” … Read more