The Source for Cyber Insurance News, Insights and Data
Guy Carpenter, the global risk and reinsurance specialist under the Marsh McLennan umbrella, has taken steps to address the volatility of cyber risks with the launch of its groundbreaking product, CatStop+. This cyber reinsurance offering combines low-attaching cyber event coverage with the proven mechanics and attritional protection of aggregate stop loss. The innovative structure of … Read more
“Cyber Risk Accumulation: Fully Tackling the Insurability Challenge’” is a useful new report from The Geneva Association (GA), “a global association of insurance and reinsurance CEOs and think tank for the insurance industry.” See information on the report here. We found a number of the report’s findings valuable, including the role and recent history of … Read more
As in the US, the discussion turns on the threat of a catastrophic “systemic” cyber attack, which could generate $3.5 trillion in “global economic damage” according to a recent model prepared for Lloyd’s of London (which has been tightening its war exclusions.) The UK established a backstop decades ago for terrorism coverage after IRA attacks … Read more
Trium Cyber, a US-based Lloyd’s of London cyber specialist, is expanding its reach by opening an office in London. The move will improve services to clients outside of the United States. Amie Watson, who takes on the role of Head of International Underwriting will oversee the office. The London office will focus on writing excess … Read more
Stoik calls itself the “first MGA in Europe to empower brokers by providing their (SME) clients with insurance policy and protection against cyber risks.” “The fresh investment will support the company’s expansion across Europe as it enters its first market field, beginning with Germany. The €10 million arrives via lead investors Munich Re Ventures, and … Read more