Institutional Investor Bets on Cyber Re
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…
Fed Backstop for Cyber Insurance Gains Steam: Politico
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…
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Dubbed “Cairney,” Beazley’s new Cyber Cat Bond Listed on Bermuda Stock Exchange (BSX)
“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…
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Here’s the First Reported “Cyber Catastrophe Bond,” from Beazley
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…
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When Does It Make Sense to Use Captives for Cyber Insurance?
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…
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Movement to More Effective Underwriting of Cyber (Re)Insurance: CyberCube Provides Risk Exposure Databases
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…
Re to the Rescue: BDT Capital Forms “Ferian Re” with Cyber Insurer Coalition
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,…
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Coalition Buys Prop/Casualty Insurer from Munich Re
“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…
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How Can the Cyber Insurance Market Increase Capacity? It’s Spelled I-L-S, Says Verisk
ILS= Insurance Linked Securities, which are financial instruments supporting retrocession, or reinsurance for reinsurers. Verisk surveyed ILS funds on their appetite for cyber insurance. “Thirteen ILS funds, representing nearly $60…
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