Marsh Launches Cyber Risk Analytics Center 

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“The center will be headed by Managing Director Scott Stransky, a cyber risk and catastrophe modeler. Stransky joined Marsh McLennan earlier this year after more than a decade at AIR Worldwide. He holds a bachelor’s degree in mathematics and a master’s degree in atmospheric science, both from MIT, and his work has been published in … Read more

 $12.5 billion in “Hidden Loss Potential” Overhangs US Cyber Insurance Carriers  

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“The study, entitled ‘Spotlight on Cyber: A study of aggregation risk in the US property insurance market,’ noted that sufficient cyber risk is amassing in the market to trigger a one-in-100-year loss of $12.5 billion. The loss is so significant, that the study says it is enough to cause a downward transition of the Best’s … Read more

At-Bay Adds $20 Million to its Series D 

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“Founded in 2017, the Mountain View, Calif-based At-Bay surpassed $160 million in annual recurring revenue in the second quarter of the year, when it also experienced an 800% year-over-year premium growth.” Source: Cyber Insurance Firm At-Bay Announces $20 Million Series D Extension | SecurityWeek.Com

Amazon to Offer Cyber Insurance to UK SMBs, Following Move into US Market 

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“Amazon’s foray into UK business insurance with Superscript follows US insurtech firm Next Insurance’s announcement back in March that it would be offering insurance to US small businesses via Amazon Prime.” Amazon has partnered with Superscript to start offering insurance to small and medium-sized businesses in the UK, with companies soon able to order cyber … Read more

CEO Predicts Cyber Insurance Will Become Mandatory, Like Worker’s Comp

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“‘Progressive versions of workers’ comp have led to improved employee health and safety measures and proactive prevention efforts to reduce the risk of workplace injuries,’ Kundi said. ‘Similarly, as we better understand cyber risk, better data will show the connection between risk mitigation and cyber losses, pressuring companies to invest in security and protection.’”   … Read more

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