The Source for Cyber Insurance News, Insights and Data
“We’ve come a long way in our journey from the first ever cyber cat bonds, which were private, we’ve now got three 144A cat (catastrophe) bonds out there covering the cyber risks,” said Richard Gray, Head of Third-Party Capital at Beazley in this report from Artemis, a provider of information on insurance catastrophe bonds and … Read more
Cybersecurity risks are escalating as businesses embrace digitalization, creating one of the most urgent challenges of our time. Cyber incidents, including ransomware attacks and data breaches, have topped global risk charts, leaving many businesses scrambling for solutions. Despite the exponential growth of the cyber insurance market—premiums soared from $1.5 billion in 2013 to $15 billion … Read more
We’ve discussed other findings from the recent Bermuda Monetary Authority (BMA) report, but we’re also struck by the increase in cyber insurance captives and cyber ILS vehicles documented by the financial regulator. The growth of Cyber Insurance Captives and Cyber ILS (Insurance-Linked Securities) is all related to the growth of reinsurance in the cyber market; … Read more
The Index has been established by PERILS, the Swiss-based provider of catastrophe insurance data, and CyberAcuView, an organization set up by cyber insurers. The Index will include primary losses from systemic cyber incidents affecting more than one insurer and one policyholder. It will report events exceeding $500 million in industry losses within six months after … Read more
Asset manager Stone Ridge entered into $100m deal with Hannover Reinsurance relating to cyber insurance exposure. “In the statement, Ross Stevens, CEO of Stone Ridge, said the company expects higher than average investment returns from cyber insurance investments and low correlation with other investment risks. ‘We intend to meaningfully grow our cyber exposure throughout 2023 … Read more