The Source for Cyber Insurance News, Insights and Data
Xinhua, a state media outlet, reports the “guideline” comes from the Ministry of Industry and Information Technology and the National Financial Regulatory Administration. “The country will further improve the supporting policies and regulations, promote the application of cybersecurity insurance among enterprises, and cultivate more high-quality cybersecurity insurers, said the guideline.” Some might say the PRC … Read more
Nexus picks up app. 3,000 broking partners. “Nexus notes that this acquisition significantly expands both its cyber insurance capabilities and market reach. It’s hoped that Evolve’s strong distribution network and experienced team of cyber experts will complement Nexus’s existing technology-enabled data-driven underwriting.” This is reported to be Nexus’ 17th acquisition since 2008. Nexus Underwriting has … Read more
The White House has now released its National Cybersecurity Strategy Implementation Plan to outline next steps for the strategy it first released in March. Read the update here. The update promises the feds will release by the end of the year findings on the need for and potential structure for federal involvement in cyberinsurance for … Read more
The insurance research firm considers the future of the industry, including if a catastrophic attack occurs. “(A) still immature cyber market is rocked by one or more near-term catastrophe events on a scale not previously seen, denting confidence in available cyber risk models and deterring investors from committing capital to the nascent cyber catastrophe bond … Read more
Although it feels bigger to us and, no doubt, others working in the sector, cyber insurance remains a tiny fraction of total U.S. direct premium written (DPW). But cyber is growing much faster than other categories and will almost certainly require growing capital-markets support to cover systemic and tail risk. “The issuance of Beazley’s $45 … Read more