The Source for Cyber Insurance News, Insights and Data
The recent CrowdStrike outage has left many wondering about the full extent of its impact on the cyber liability insurance market. Consider this: “This is exactly what cyber insurance is meant to cover. …This is not something that is outside of our control,” said Meredith Schnur, U.S. and Canada cyber practice leader at broker Marsh. … Read more
CRC Group, a major wholesale specialty insurance distributor in North America, has launched Cyber.IE, a new exclusive excess cyber insurance product. The company statement said this product offers the largest wholesale exclusive cyber capacity available in the domestic market, providing substantial protection and flexibility for businesses needing excess cyber solutions. The limit for this new … Read more
QBE Insurance, which operates in 27 countries, launched QCyberProtect, a cyber liability insurance policy designed to enhance clients’ cyber resilience globally. QCyberProtect offers tailored coverage for various cyber risks, including network security breaches, privacy liabilities, business interruptions (both IT and non-IT related), and reputational damage. Andrew Horton, Group CEO of QBE Insurance, stated, “Strategic investments … Read more
According to a SkyQuest Technology report, the global cyber insurance market, valued at $12.94 billion in 2022, is poised for exponential growth. Analysts forecast the market to expand from $16.21 billion in 2023 to an astounding $100.62 billion by 2031, driven by a robust compound annual growth rate (CAGR) of 25.70% over the forecast period. … Read more
Small businesses often struggle to secure comprehensive cyber insurance due to limited coverage options and stringent underwriting criteria, leaving many vulnerable to cyber threats. With that in mind, Corvus Insurance has announced several enhancements to its underwriting capabilities and cyber services. These updates aim to expand the company’s reach and better serve its policyholders. For … Read more