The Source for Cyber Insurance News, Insights and Data
Growth capital provider BGF put in $4.4 million… “The company said it has achieved a 1000% growth on annual recurring revenue since June 2020 and developed partnerships with high-profile insurers and brokers, such as Beazley, Howden, Paragon and Alliant.” Source: UK Cyber Insurtech KYND Receives £3.25 Million Investment from BGF
Keep an eye on the role of Managing General Agents/MGAs (brokers with underwriting authority from carriers), says @CyberDanBurke. “Greater adoption of MGA capacity and the willingness of traditional cyber insurance carriers to write insurance above these MGAs in a cyber insurance tower will be an area to watch throughout 2022.” Includes commentary from Woodruff expert … Read more
“(Beazley Head of Cyber Services Raf Sanchez) explained that this is because many incidents are notifiable not just to regulators but often must be disclosed to clients (who have inserted mandatory notification obligations into supply contracts). He also said that Beazley expects an increase in D&O claims linked to cyber-attacks in the coming year and … Read more
Just raised $4.3m seed round (see investors via link below) “Stoïk works a bit like Coalition in the U.S., except that it doesn’t partner with brokers to distribute its insurance product. The French startup wants to build a direct relationship with its customers.” Source: Stoïk combines cyber insurance products with active security monitoring | TechCrunch
“NetGuard® Select, Tokio Marine HCC – Cyber & Professional Lines Group’s stand-alone personal cyber insurance is rated and underwritten to make it accessible to other classes of risk, according to (company Vice President Kareen) Boyadjian, who pointed out that the minimum annual premium for NetGuard® Select is just $500.” Source: Personal cyber insurance market to … Read more