The Source for Cyber Insurance News, Insights and Data
Coalition, a pioneer in active insurance designed to preempt digital threats, unveiled its Active Cyber Insurance products in Australia. These products go beyond mere risk transfer, serving as an innovative solution tailored for the digital age. They collaborate with organizations to analyze cyber risk profiles, bolster their defenses, and avert future attacks. The need for … Read more
Cyber security claims are back up and could show 25% YoY growth for 2023, says a new Allianz Commercial report. Not only are claims increasing, but so is the complexity of attacks. “”Double and triple extortion incidents – using a combination of encryption, data exfiltration and Distributed Denial of Service attacks – to obtain money are … Read more
“While not appearing in the top 10 causes of loss, the number of cyber claims has significantly increased over the past few years, driven by the rise of threats such as ransomware attacks, but also reflecting the growth of cyber insurance. AGCS (Allianz Global Corporate & Specialty) has been involved in more than 1,000 cyber … Read more
The cyber insurance market has now been around long enough that, to use the lingo, “native” cyber insurance pros are now climbing the career ladder. “Tresa Stephens has been promoted to regional head of cyber, tech and media in North America at Allianz Global Corporate & Specialty (AGCS) and she recently spoke to Insurance Business about her new … Read more
Microsoft teaming with At-Bay. Google Cloud previously announced similar collaboration with Allianz and Munich Re.