The Source for Cyber Insurance News, Insights and Data
A recent report by Howden Re explores the evolution of the cyber (re)insurance market, advocating for a shift from viewing cyber risk merely as a threat to recognizing its potential as a significant growth opportunity. The report, titled Re-framing cyber risk: navigating threats and embracing opportunities, highlights a persistent imbalance in the industry’s perception of … Read more
Munich RE is out with a useful new report, “Cyber Insurance Risks and Trends 2024,” that ranges from commentary on the growth of various cyber risks (ransomware is back) to a bullish projection that the cyber insurance market will reach USD $29 billion by 2027 (see below). The report’s analysis of threats includes the growing … Read more
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