The Source for Cyber Insurance News, Insights and Data
“James Burns, head of cyber underwriting at CFC, says that ransomware has ‘solely transformed’ the cyber market owing to the “astronomical increases” in the extortion amounts demanded in attacks over the last 18 months.” See more from this survey. Source: Captive insurance industry news | Airmic: cyber risks are the most likely new risks to … Read more
“The majority of insurance applications submitted through APIs today still result in inaccurate quotes. This triggers the need for manual underwriting and unnecessary delays. Insurance agents and brokers need speed and efficiency when servicing small and mid-size businesses while offering coverages that are relevant, easy to understand and bring value beyond coverage with resources for … Read more
What we have here is a failure to communicate… “The challenge here is two-fold. Insurers make underwriting decisions based on technologies they don’t fully understand, while applicants don’t fully understand cybersecurity frameworks.” Source: Top Reasons Insurers Decline Cyber Insurance
“The appointment follows the recent announcement by BOXX of its global partnership with Zurich Insurance, which Steptoe will manage along with other customer relationships in Europe.” Source: Toronto-Based Cyber Insurer BOXX Insurance Appoints Dominic Steptoe as Global Chief Product Officer | News | wfmz.com
“AXA XL has promoted Danielle Roth as practice leader and head of Cyber Claims, North America. Roth is responsible for claims strategy and best practices including coverages analysis, claims investigations, reserving and resolution of claims, service standards and state regulations. In addition to managing AXA XL’s cyber claims professionals in the U.S., Canada and Bermuda, … Read more