$190 million C-Round for Blackpoint Cyber; Company’s Services Include Integrated Tech/Cyber Insurance Product

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The round was led by major industry investor Bain Capital Tech Opportunities and included Accel. They were joined existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners. Among other services, Blackpoint provides MDR (managed detection and response) and other technology to MSPs and offers a cyber insurance solution. From their … Read more

Time for Gov Agencies to Lock in Lower Cyber Insurance Costs: AON 

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“’You all heard the horror stories in ’22 about 150% increases in premium,’ said Bryan Hurd, Seattle-based vice president of Aon cyber solutions…’Now, the market has actually softened,’ he said, with some policyholders seeing renewals at the same rates. ‘If claims continue to grow, you can believe the underwriting is going to be even more … Read more

Cyber Experience Counts: Lori Bailey Recruited by AXIS as Head of Growth for Global Cyber and Technology

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Industry observers often write about the paucity of historical loss data to help underwrite cyber insurance. Insurtech platforms are helping close the gap by collecting massive amounts of cyber security data to help the industry catch up. Along with more data, major industry players continue to seek executives with cyber insurance expertise. AXIS’ new hire … Read more

Google Exec Makes the Case for a Federal Cyber-Insurance Backstop

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Google exec @MonicaShokrai details the benefits of such a federal policy, including attracting more capital to the cyber insurance market: “Broadly speaking, insurance can drive resilience as a society: Not only can it enable a fast and effective distribution of funds in the event of a catastrophe, it can also provide a predefined path to … Read more

Watch Out for “Long-Tail” Cyber Claims: WSJ 

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“Financial settlements with regulators and affected customers can sometimes rise into the millions of dollars and take several years to resolve. For example, claims from the 2013 breach at retailer Target that resulted in the data of approximately 40 million customers being stolen continued for several years and the company was still receiving insurance payments … Read more

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