The Source for Cyber Insurance News, Insights and Data
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
Nexus picks up app. 3,000 broking partners. “Nexus notes that this acquisition significantly expands both its cyber insurance capabilities and market reach. It’s hoped that Evolve’s strong distribution network and experienced team of cyber experts will complement Nexus’s existing technology-enabled data-driven underwriting.” This is reported to be Nexus’ 17th acquisition since 2008. Nexus Underwriting has … Read more
Growth of the insurance-linked securities (ILS) asset class into cyber risks will likely not come from moving capital out of current lines: Artex Capital Solutions execs. “‘Do we think investors will jump to reallocate funds away from property CAT into cyber and other ILS-based risk lines? Unlikely. The most likely outcome will be a slow … Read more
The round was led by major industry investor Bain Capital Tech Opportunities and included Accel. They were joined existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners. Among other services, Blackpoint provides MDR (managed detection and response) and other technology to MSPs and offers a cyber insurance solution. From their … Read more