The Source for Cyber Insurance News, Insights and Data
The global cyber insurance market growth is projected to rise from $16.66 billion in 2023 to $84.62 billion by 2030 according to the IMARC Group. The increasing number of cyberattacks and the need to protect critical assets are some of the key factors driving the growth of the market. The market is segmented by type, … Read more
Zurich buys SpearTip to bolster its cyber risk and mitigation services to customers. “‘Both Zurich Resilience Solutions and SpearTip share a commitment to helping businesses anticipate and prevent cyber threats while being ready to respond when an attack occurs,’ said Tom Fioretti, Head of North America Zurich Resilience Solutions. ‘The acquisition of SpearTip represents a further … Read more
The round adds to $225 million already raised by the company. The round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, with participation by Lightspeed Venture Partners, General Catalyst and Founders Fund. “’Securing a digital world at enterprise scale requires fundamental behavior change,’ said Arif Janmohamed, Partner at Lightspeed Venture Partners, … Read more
The march of cyber insurtechs continues. “Tom Kang has been appointed as CEO of Converge Insurance as part of the financing round, which closed last week. ‘Our mission is to empower policyholders with radically transparent cyber insurance so they can manage technology risks more intelligently,’ said Kang. ‘We’re thrilled to partner with the team at … Read more
“’One of the things we hypothesized right from the start was that cyber is going to be the most capital-constrained and most expertise-constrained class of business in the market. And so we focus on assisting our client base with those two key elements; whether it’s our expertise in helping them navigate the cyber landscape or … Read more