Cyber
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Aon’s cyber chief said capacity will be available to insurers who perform well on profitability, rate change and underwriting strategy.
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The partnership will allow Corvus to provide its clients with a comprehensive analysis of cyber risk exposure, the company said in a statement.
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The investment comes as Resilience plans for middle-market expansion and international growth, bringing the company’s valuation to $650mn.
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Ryan Specialty Group MGU EmergIn Risk renews cyber binder with RenaissanceRe and names a cyber expert to lead its London team.
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Cyber has surpassed D&O and natural catastrophe risk to become the most strained class of business for insurers, according to Aon’s Global Market Insights report for Q3 2021.
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Executives from Munich Re, Aon, Willis Re and Guy Carp cited cyber, inflation and climate change as among the biggest risks facing the industry heading into 2022.
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The business, whose valuation exceeds $3.5bn after a recent funding round, has backing from Zurich North America.
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The CEO spoke to this publication in a wide-ranging interview, covering the still “daunting” loss inflation in commercial auto and the importance of good cycle management.
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The executive also said that leadership in cyber would not come from traditional players, and that the segment currently faced a supply, rather than demand problem.
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The executive has more than two decades of underwriting experience, most recently serving as a senior vice president at Argo Group.
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Deputy Attorney General Lisa Monaco told the Associated Press to expect arrests, seizures of ransom payments and additional law enforcement operations in the days to come.
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A trend of “double extortion” and exploiting victims who do not use multi-factor authentication has contributed to the surge in attacks in the last 18 months.
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