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“(T)he cyber rates continued to accelerate at 28%, although that is a deceleration in rate increase in the last quarter we saw 53%,” said Martin South of Marsh & McLennan…
Read More “Cyber Re Rates Still Growing, But Not as Fast: Marsh & McLennan ” »
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…
While not everybody is yet entirely convinced the feds should provide a backstop to cyber insurers for catastrophic system-wide attacks, Politico reports the discussion is moving forward. “But policymakers and…
Read More “Fed Backstop for Cyber Insurance Gains Steam: Politico ” »
“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 ” »
This report, written by the team @TheGrahamCo, casts doubt on using a “new captive” for cyber risk, as captives are commonly used for “high-frequency, low-severity” claims, while cyber attacks are…
Read More “When Does It Make Sense to Use Captives for Cyber Insurance? ” »
CyberCube says it’s offering the first detailed Industry Exposure Databases (IED), which allow (re)insurers and brokers to quantify real-time cyber risks. “The first release of CyberCube’s Exposure Databases focuses on…
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 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…
Read More “Coalition Buys Prop/Casualty Insurer from Munich Re ” »