The Source for Cyber Insurance News, Insights and Data
“Mosaic has announced it will be underwriting primary cyber insurance globally, offering US$20 million in capacity across its network of underwriting hubs…Yosha DeLong, global head of cyber at Mosaic, says: ‘We’re excited to offer a primary cyber insurance solution across all Mosaic’s underwriting regions. We have always had the vision of being a primary solution … Read more
“Speaking with Artemis, Hannover Re senior executives Silke Sehm and Henning Ludolphs explained that tapping into the insurance-linked securities (ILS) market for cyber retrocessional reinsurance capacity is a priority and with a quota share already arranged, the next step is sponsoring the reinsurer’s first cyber catastrophe bond, details of the form were not revealed.” Speaking … Read more
Marsh notes global cyber pricing rose 28% in Q42022, slowing compared to 53% the prior quarter. But rates and volatility remain high enough to keep providing tailwinds for captive structures, concludes the firm. Most growth in Marsh captives comes from single-parent captives and cells, Marsh reports. “In fact, between 2020 and 2021, 40% of new … Read more
“This paper makes the compelling case for cyber ILS, having addressed the common objections. The massive opportunities which arise from the continued demand for cyber (re)insurance will only be further enhanced by the successful execution of cyber ILS transactions. This will increase (re)insurance capacity, as well as isolate cyber catastrophe risk into a tradeable format. … Read more
The program comes from CloudCover, provider of AI-driven network security detection tech, with Hylant Global Captive Solutions. “Stephen Cardot, CEO of CloudCover, commented: ‘Unlike conventional cyber insurance offerings, the CloudCover CyberCell captive insurance program operates as a creative answer for any large enterprise or association who is searching for an alternative approach to cyber insurance … Read more