Cyber Insurance Policies & Strategies

New Quoting Platform from World’s Largest Public Insurance Company Sure to Accelerate Growth of Stand-alone Cyber Policies 

by

Chubb calls itself the “world’s largest publicly traded property and casualty insurance company” and it’s now making a significant move involving stand-alone cyber insurance. “Chubb has launched Cyber Central, an innovative quoting platform designed for agents and brokers who specialize in cyber risks. This cutting-edge platform simplifies and enhances the process of quoting and issuing … Read more

Cyber Insurance Premiums and Profits Up Sharply, Along With Stand-Alone Policies &  Surplus Lines Market Share: AM Best

by

We all knew the general trend reported by AM Best. Headline: “The U.S. cyber insurance market continued strong growth in 2022, with direct premium increasing by 50% to $7.2 billion and improving loss ratios given greater attention to underwriting discipline…” But the report, aside from adding details, notes some other important trends. “More than 70% … Read more

Another Personal Cyber Insurance Product, this from NFP 

by

“’When people hear about cyber insurance, they often think of business coverage because personal coverage has not traditionally been available to the general public,’ said Mila Araujo, NFP assistant vice president of personal cyber, North America. ‘So we developed a custom, standalone product, specifically for individuals, to respond to our clients’ needs.’” Coverage starts at … Read more

World Dodged 100 Potentially Catastrophic Hacks Over Past 6 Years: CyberCube 

by

“In a new report, CyberCube conducted an analysis of cyber cat events and documented over 100 global cyber aggregation events with catastrophic potential over the past six years – equating to approximately one every three weeks. The vast majority of those events were resolved by the cybersecurity community with minimal financial loss to insurers. However, … Read more

Cyber Insurance Becoming Buyer-Friendly:  Aon. Really & Will It Last? 

by

“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 now vastly different. Instead, buyers should now be looking at mitigating their exposure — taking advantage of the market at the expense of sacrificing coverage … Read more

×