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We told you about Beazley’s CAT bond and then its listing on the Bermuda exchange. This development in ILS is generating some optimism among those who fear devastating, system-wide damages…
Read More “Beazley’s New $45m “Cyber Cat Bond” May Be Sign of Things to Come: Information Week ” »
Asset manager Stone Ridge entered into $100m deal with Hannover Reinsurance relating to cyber insurance exposure. “In the statement, Ross Stevens, CEO of Stone Ridge, said the company expects higher…
“Being a privately placed Section 4(2) cat bond, this Cairney deal as it is called, is akin to a transformed collateralised reinsurance deal that has been syndicated across a group…
Read More “Dubbed “Cairney,” Beazley’s new Cyber Cat Bond Listed on Bermuda Stock Exchange (BSX) ” »
We recently wrote about the market anticipation of a trade-able 144a Catastrophe (“Cat”) Bond. Now Beazley, a London-based specialist insurer, has launched something related, the first-ever cyber catastrophe bond. The…
Read More “Here’s the First Reported “Cyber Catastrophe Bond,” from Beazley ” »
144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.” “’While there…
Read More “2023 Could See First Cyber “144a Cat Bond:” CyberCube ” »
In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in…
Eye Security, a subscription-based cybersecurity and insurtech company, lands $17m+ round led by Bessemer Venture Partners. Partner Alex Ferrera notes on Twitter: “We’re betting cyber insurance + XDR (Extended Detection…
Financial terms of the transaction were not released. Boxx appears to have wanted the target’s cybersecurity talent as well as the company & its IP. Templarbits CEO/co-founder will head up…
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition,…
Read More “Re to the Rescue: BDT Capital Forms “Ferian Re” with Cyber Insurer Coalition ” »
The Indiana-based company reports a number of successful deployments, including one which allowed a non-profit to hold onto its cyber coverage after suffering two breaches before it retained SecondSight. “SecondSight’s…