Cyber Insurance Underwriting

Envelop Risk Leverages Its Cyber Tech to Provide Services to Cyber Reinsurance/Insurance Market

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The Company‘s new business unit, Envelop Risk Solutions, will provide technical assistance to reinsurance providers “across the full capital management spectrum, including: cyber underwriting and underwriting strategy, cyber modelling, scenario modelling, capital metrics, cyber market analytics, new product development, threat intelligence, reinsurance operations automation, and global cyber risk forecasting.” “We have developed advanced capabilities to … Read more

1/3 of Ransomware Victims Did Not Recover Data Even After Paying Up

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In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue of ransomware data recovery where recent studies reveal that 1/3 of ransomware victims did not recover data even after paying up. For individuals and businesses, … Read more

The Baldwin Group Introduces API-Connected Underwriting Platform Cyber Navigator

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In an effort to ease the often cumbersome process of obtaining cyber insurance, The Baldwin Group announced the launch of Cyber Navigator, an API-connected placement platform, in collaboration with digital commercial brokerage firm Limit. This announcement marks Baldwin’s first in-house digital placement tool, streamlining the process for procuring cyber insurance. Cyber Navigator’s advanced technology simplifies … Read more

“A Rose by Any Other Name” Does Not Apply to Cyber Insurance — The Lack of Standard Terminology in the Industry

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“What’s in a name? That which we call a rose by any other name would smell as sweet,” wrote Shakespeare. But cyber insurance experts think there’s nothing sweet about the lack of standard terminology in cyber liability insurance policies. “‘This dearth of common language, (Peter Hedberg of Corvus Insurance) said, can create unintended confusion when … Read more

What? Cyber Insurance Premiums Dropped For First Time in 2023: Fitch

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After several years of exponential growth in the cybersecurity insurance market, a surprising shift occurred last year in cyber liability insurance premiums, according to a report from Fitch. “U.S. statutory direct written premiums for cyber coverage in standalone and package policies declined for the first time on record in 2023 by a modest 2%. This … Read more

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