Cyber Insurance

Top News about Cyber Insurance

Movement to More Effective Underwriting of Cyber (Re)Insurance: CyberCube Provides Risk Exposure Databases 

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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 US standalone cyber insurance and represents the global insurance industry’s exposure and risk to US companies. These Exposure Databases can provide (re)insurers and brokers with … Read more

Re to the Rescue: BDT Capital Forms “Ferian Re” with Cyber Insurer Coalition 

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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, added, ‘The rapid growth of the cyber insurance industry has outpaced the supply of reinsurance capital. We’re excited for Ferian Re to bring alternative capital … Read more

Creepy Twist from Hackers of Australian Insurance Company Medibank

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“The group threatened to release the data of Medibank’s ‘1k most [prominent] media persons’ which includes ‘[those with the] most [social media] followers, politicians, actors, bloggers, LGBT activists [and] drug addicted people’ as well as people with ‘very interesting diagnoses.’” Source: Medibank is latest Australian company to suffer cyber security incident | Cyber Security Hub

SecondSight Exits Stealth Mode with $3 million Seed Round; Applies AI to Digital Risk Analysis for Cyber Insurance

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The Indiana-based company reports a number of successful deployments, including one which allowed a non-profit to hold onto its cyber coverage after suffering two breaches before it retained SecondSight. “SecondSight’s platform autonomously discovers, classifies and analyses an organisation’s entire landscape of digital assets, the unique risk profile for each digital asset across thousands of different … Read more

Growth of Cyber Insurance Rates Slows — But Premiums Still Going Up 

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“According to a report released by Marsh LLC last week, average cyber liability rates increased 54% in July compared with 133% in December 2021. Cyber rate increases are slowing but rates are still rising significantly, said Neil Kessler, Dallas-based president and chief operating officer of CRC Insurance Services Inc. According to CRC’s analysis, 82% of … Read more

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