The Source for Cyber Insurance News, Insights and Data
Fintech VC Canapi Ventures led the round in Elpha, which claims to be the first cyber insurance startup “to combine proprietary cybersecurity software with coverage to improve risk transfer.” Fused cybersecurity/insurance platforms continue to appear, but Elpha is apparently differentiated enough for its well-known pre-A investors to join the round. According to the company, they’re: … Read more
“Around 90% of ILS fund managers are concerned about the potential for silent cyber exposure within their funds, said S&P, quoting PCS, a Verisk business and provider of catastrophe data. ‘Since silent cyber claims can have a detrimental impact on other insurance lines of business, ILS funds with exposure to operational or property risk already … Read more
“The result: Coalition gains a property and casualty insurer licensed in all 50 states. Financial terms of the deal were not disclosed… Shawn Ram, head of Insurance for Coalition, described the advantages to the acquisition of Digital Affect: ‘This strategic move empowers Coalition to expand the reach of our market leading active cyber insurance offering … Read more
“’Unfortunately, the adversarial community, the hacking community, they don’t care,’ (Coalition Head of Insurance Shawn Ram) added. ‘Companies may elect to provide less resources toward cyber-related security and controls. The opportunity for adversaries to take advantage of that increases, so what we have seen is an increased demand and increased desire for cybersecurity.’” Some investors … Read more
“The company helps MGAs, MGUs, and (re)insurers become more profitable by providing risk management tools and data to improve loss ratios while deepening insured engagement. DynaRisk helps brokers grow new business and streamline renewals by providing valuable data and insights on any company globally to help demonstrate the need for cyber insurance.” Source: DynaRisk successfully … Read more