$50m in Growth Capital for CyberCube is Vote by PE for Risk Analytics as Key Driver in Cyber Insurance Industry

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In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors Forgepoint Capital, Hudson Structured … Read more

Attack on Metropolitan Opera: Overture for Increased Targeting of Cultural Non-profits? 

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“Whatever the motive and means, the cyberattack on the Met is a warning to other cultural institutions. Anyone is a potential target. ‘I am always cautioning clients that everyone is a target, regardless of their size and industry. It should not take an incident such as this to make other cultural institutions realize they are … Read more

APCIA to Feds: Not So Fast with a “Cyber TRIP” 

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American Property Casualty Insurance Association’s response to the federal government’s request for comment on cyber insurance issues: “We believe it is premature to explore the details of a federal insurance response without conducting a thorough study of the threshold questions raised above to determine where, if at all, such a response is needed. Nevertheless, experience … Read more

Interesting Chubb Survey on Personal Cyber Insurance — But Could this Many People Really Have Such Policies? 

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“…39% of the survey respondents currently have a personal cyber insurance policy, and that percentage increases greatly with household income. In fact, 83% of high net worth report having a cyber policy. However, there is still work to be done. With 39% saying they are unfamiliar with personal cyber insurance, including 19% saying they are … Read more

“Selective Underwriting Appetites Turn Cyber Insurance Shopping into Brainteaser:” New Report from Risk Placement Services 

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The 2023 U.S. Cyber Market Outlook provides useful information on issues such as the regulatory environment, causes of cyber claims, industry break-downs and some predictions for 2023. It also affirms the trend we’ve written about before — social engineering and fraudulent payment scams moving to the fore (by percentage of claims, not losses) as hybrid … Read more

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