The Source for Cyber Insurance News, Insights and Data
Pen Underwriting has doubled its UK SME cyber cover limit to £10 million. The new ceiling applies to companies with revenues up to £600 million. It takes effect for risks incepting on or after 1 July 2026. The MGA also confirmed it will handle all UK cyber claims in-house. The London-based MGA cited rising broker … Read more
More than 600,000 UK businesses reported a cybersecurity breach or attack in the past year, government data shows. Phishing attacks were the most common, with 85% of affected firms citing them as disruptive and time-consuming. The growing use of AI-driven impersonation has also raised concerns among smaller firms with limited resources. Rising Cyber Risks for … Read more
Pen Underwriting has relaunched its cyber insurance proposition for large corporate clients, marking a significant expansion in its coverage and risk appetite. Announced on October 17, 2024, the revamped offering includes £10 million in primary cover and a £15 million limit for excess of loss (XOL), backed by a consortium of A-rated capacity providers with … Read more