Cyber
-
Beazley has tapped Melissa Carmichael as head of US cyber, effective immediately.
-
Some see flat renewals this year, while others report deployment of larger lines.
-
Global attacks hit a record high in 2023 and show no sign of slowing in 2024.
-
Executives are seeing 5%-15% rate declines on intense competition but in excess layers pricing is down as much as 40%.
-
Despite a smaller number of claims, ransomware payments hit all-time highs last year.
-
The hire comes after the company’s recent rebrand from Capitola Insurance.
-
Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
-
The broker used a consensus-based hypothetical cat event type to analyse its global impact.
-
The executive has been with Zurich since 2018.
-
The cyber market faces significant claim notifications from Change Healthcare clients.
-
Cyber Quoting will connect global cyber insurers and US distributors.
-
The average rate increase in the cyber market stands at 1.6%.
-
TMHCC said the appointments underline its "commitment to innovation, market expansion and customer service".
-
CyberCube expects ransomware attack to impact both large and SME accounts.
-
Participating members can purchase up to $10mn in (re)insurance.
-
The project is not immediately moving forward due to lack of client demand.
-
The deal adds to Aspen’s existing support of the InsurTech in the UK and Canada.
-
Many carriers’ views on cyber are mixed, the agency said.
-
The MGA will be offering $10mn limits for $300mn-$10bn companies.
-
Dejung spent 13 years at Scor, most recently as cyber CUO.
-
He was most recently cyber product leader at Zurich NA.
-
It’s unsurprising, following the Corvus-Travelers transaction.
-
In September 2023, Cowbell made the same number of staff cuts.
-
The Coalition Cyber Threat Index predicts a jump in exploit-based cybercrime this year.
-
The MGA will target small and mid-market firms and will also offer tech E&O products.
-
Shannan Fort was a partner in McGill’s FI and cyber team.
-
Laxner has prior experience at Ambridge, Converge, Axis, Markel and Chubb.
-
-
She has over 15 years’ experience managing PL and cyber portfolios.
-
Corvus reported a 34% rise in the number of active ransomware gangs.
-
Expanded underwriting capacity comes after a year of strong growth.
-
Partnerships can address growing cyber threats such as DDoS attacks and ransomware, as well as AI.
-
It is understood that the cyber InsurTech has ~$100mn of excess delegated authority capacity and around 20 backers.
-
The mid-market build-out comes in response to trading partners' needs for more on-the-ground-support for more complex risks and the constraints of a digital-only product.
-
The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
-
Political violence rose up the agenda, with conflict raging globally, and key elections due this year.
-
The brokerage reported that polled carriers, however, have pointed to ransomware activity reverting to 2019 levels to argue current pricing is unsustainable.
-
Prior to his new role, which Matt Prevost began this month, the exec spent nearly 10 years as Chubb’s SVP, cyber and product line manager.
-
Carriers will be taking more risk net this year – which may arrest the speed of decline in cyber pricing.
-
The 11th hour settlement came just days before the case was scheduled to be heard by the New Jersey Supreme Court.
-
Salvatore Sama has been named global product head for casualty, while Jane Farren has been named global head of financial professional lines.
-
Chris Bruno was most recently a vice president in Lockton’s Midwest cyber broking practice.
-
Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
-
Aidan Flynn said that although different markets are expected to move at different speeds, the underlying trend is clear.
-
The two insurers have achieved AWS cyber insurance competency and will become part of a new Amazon effort to provide quotes for cyber coverage within two days.
-
Resilience CEO and co-founder Vishaal Hariprasad said cyber rates are expected to even out, and possibly creep back up, in the near term.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
-
The challenging funding environment has left InsurTechs with limited options for capital raising and liquidity.
-
The Bermudian also revealed a $29mn restructuring charge for Q3.
-
The new financing builds on the $148mn raised to date and follows recent belt-tightening measures that included layoffs.
-
At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
There is a “confluence of factors” making the current raising environment more challenging for companies, the CEO said.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The executive said that NA financial lines rates and pricing in aggregate were down 4.8% and 3.8%, respectively, in Q3 as Chubb is trending financial lines loss costs at 4.7%.
-
The report said that, to date, ransomware victim numbers for 2023 have already surpassed those for the entirety of either 2021 or 2022.
-
Current cyber brokerage leader for the US and Canada, Meredith Schnur, will succeed Reagan as cyber practice leader, US and Canada.
-
Parent Cowbell Cyber launched the E&S carrier a little over a year ago as part of Cowbell’s transition from an MGA to a full-stack insurance carrier.
-
The International Underwriting Association has urged cyber insurers, brokers and clients to focus on risk management to help better respond to claims.
-
Two studies have found that, while almost a third of back-up attempts fail to restore system data after a ransomware attack, cybercriminals are refining their methods.
-
Pera is launching as a division of Desq — USQRisk’s managing general agent accelerator/incubator — and is the first program Desq has brought to market.
-
A number of players suggested that the cost components of first-party claims were up between 30%-50% on that seen during Ransomware Wave One.
-
The company’s Las Vegas casinos were hit by a cyberattack last month where employee login details were stolen.
-
The survey found that a majority of Canadian businesses consider cyber threats their top concern and also believe they will eventually fall victim to a cyberattack.
-
Q2 marked the 23rd consecutive quarter of year-over-year property rate increases, with rates rising 21% on average and further increases expected for the rest of the year.
-
Despite “strong” policy growth and a successful culling of discretionary expenses, "more substantial” action was needed to reduce costs at the cyber InsurTech, its CEO said.
-
Head of underwriting Matthew Waller welcomed an FCA letter that called for policy wordings that are clear and that customers understand the coverage they are buying.
-
Bianconi joined Aspen in 2016 and has held a number of roles including, most recently, as head of US cyber.
-
Inside P&C’s news team brings you all the top news from the week.
-
Coalition also announced the formation of a dedicated $300mn reinsurer, Ferian Re, in partnership with BDT Capital Partners.
-
The carrier has also added 40 new classes of business to its miscellaneous professional liability product and raised the eligible revenue limit for businesses to $50mn.
-
She will oversee the strategic direction and execution of all At-Bay’s underwriting, partnerships and field operations
-
A summary of commentary from the first day of Inside P&C New York, with insights on capital raising, E&S and reinsurance expectations.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Cyber is another market Axis is watching closely, given new MGA entrants as well as the recent rise of ransomware activity, with the carrier expecting more “undulation” as a result.
-
At-Bay acquired the InsurTech marketplace in August 2020 for an undisclosed sum, noting that the platform would continue to operate as an independent entity.
-
The 2023 Travelers Risk Index has put concern over cyber threats among the top three worries for small, medium-sized and large businesses for the ninth straight year.
-
The average loss for the six-month period was $365,000, which represents a 117% increase year on year and a 61% increase from H2 2022.
-
The capacity deal is slated for deals with 10/1 effective dates and beyond.
-
A recent Microsoft/Rackspace Technology survey on cybersecurity has insurers expressing less concern over security risks posed by artificial intelligence than other respondents.
-
Based in New York, the executive will report to Axa XL CUO Libby Benet.
-
The founding members include Munich Re, Gallagher Re, and BitSight.
-
Rate fluctuations are expected in the market, due to the emergence of new risk-differentiation models and cyber security standards.
-
In late May, this publication revealed the appointment along with Mauro Signorelli’s, who served as head of international cyber at Aspen Insurance.
-
Some carriers have already hit GWP targets for this year and are refraining from writing any new cat risks unless it fits a very favorable profile, the firm said.
-
In contrast, cyber pricing continued slowing down as Q2 rates increased 3.6%, compared with 8.4% in Q1 and 15% in Q4 as the space was hit by increased competition.
-
With the acquisition, Zurich will expand its cyber risk mitigation services provided by Zurich Resilience Solutions unit.
-
The policies are issued by At-Bay Specialty Insurance Company, the Delaware-based E&S insurer the InsurTech acquired from XL America in January.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
Sources expect to have a clearer picture of the impact of higher ransomware and lower rates by Q4 or early next year as pricing decreases 5%-15%.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
As part of the financing round, which closed last week, Tom Kang was elevated to Converge’s CEO from his prior role as the MGA’s chief insurance officer.
-
The US and Europe have shown concerns over Lloyd’s of London war exclusion wording, the report shows.
-
The program will be broken down into two separate distribution structures, each with a distinct revenue focus and cyber security data access formation.
-
CyberCube found 2,890 vulnerable MoveIt managed file transfer (MFT) deployments mapped to companies in 75 countries at the end of June.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
CEO Adam Kembrooke said some markets would struggle to maintain the results they’ve posted historically, after the point of pricing equilibrium in the cyber class.
-
A recent report from Howden shows ransomware activity is up 48% year-on-year.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Stephens hired Green from brokerage McGriff, Seibels & Williams, where he focused on cyber, energy and marine.
-
Cyber GWP could exceed $50bn by 2030, the broker predicts.
-
The broker used three major cyber models to analyse the drivers of model variability, with revenue coming top as the most prominent driver of loss variability.
-
Based in New York, the executive will report to Lockton cyber and tech practice leader Michelle Faylo.
-
The executive joins from Crum and Forster, with 20 years’ cyber experience.
-
The cyber MGA can now serve clients in Italy, Spain, Ireland, Sweden and Denmark.
-
The broker named Matthew McCabe as MD of cyber broking with a brief to tackle complex cyber issues.
-
Boeck will be IMA’s primary contact for cyber insurers concerning the development and distribution of cyber and related policies.
-
He was previously North America Cyber Growth leader and before that Midwest Regional Leader - FINEX Cyber/E&O.
-
New language has been introduced by some insurers to limit exposures to cyber risks.
-
Uncertainty around war exclusions and systemic risks and the potential impact of the spike in ransomware on the profitability of the class were discussed at the event.
-
Analysis showed a modelled loss range of between $15.6bn and $33.4bn for a 1:200-year global loss event.
-
Capital markets are "likely to become a key ingredient of a healthier and sustainable (re)insurance market".
-
The company is raising a sidecar through JP Morgan for additional capacity from outside investors.
-
Based in Stamford, Connecticut, the executive will oversee the carrier’s cyber fac and treaty operations reporting to NA CEO Brian Quinn.
-
The executive will oversee the development of cyber and tech products reporting to Hiscox US SVP head of specialty risks Doug Karpp.
-
Blount is taking over from Rob Rosenzweig, cyber practice leader, who recently assumed a leadership role at Risk Strategies
-
Strong rhetoric from Munich Re means the US market will sooner or later have to take a position on cyber war wordings.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
In addition, the mutual promoted Jelmer Andela to head of cyber underwriting within its London-based subsidiary Liberty Specialty Markets (LSM).
-
A memo from the reinsurer raises concerns for cyber insurers over whether they could face a coverage gap after renewals.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The average increase in commercial property premiums was 20.4% during the quarter due to inflation, natural catastrophes and persisting supply chain issues.
-
Last week, the company disclosed an ultimate loss ratio of 36% for 2022, as the market softened after a period of dramatic hardening in 2020/21.
-
The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.
-
He will be charged with driving CFC’s cyber underwriting strategy and broker development in the US with a specific focus on the company’s admitted cyber product.
-
The Boston-based cyber MGA also reported premium growth of 80% last year compared with 2021.
-
The WTW D&O liability 2023 survey canvassed directors and risk managers in 40 countries around the world.
-
Spectra has in-principle approval for a Bermuda broker license but believes cyber ILS solutions will be a game of “slow progress”.
-
The underwriter will be based in southern California and lead global strategy in cyber for the insurer.
-
He will also join the board of At-Bay Specialty Insurance Company.
-
The appointment comes after a slew of cyber reinsurance brokers left Aon to join Howden.
-
AM Best is confident in At-Bay's 5-year business outlook, partly due to the rapid growth seen in the cyber insurance market.
-
The new programme marks Core Specialty’s first offering in the tech E&O and cyber market and offers up to $5mn of coverage.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
WTW’s survey cites regulatory risk, health and safety precautions and bribery and corruption on the list of top D&O risks.
-
Gangu was previously president of the insurance and services division and COO at SiriusPoint.
-
The US continues to experience catastrophic flash flooding and heavy rainfall events that are impacting “inland” areas across the country, as well as coastal areas.
-
Based in Boston, Wilson will report to Newfront’s head of executive risk, Deirdre Finn.
-
Carriers will address exposure to catastrophe losses, higher reinsurance costs, macroeconomic factors and inflation.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
It is understood that the company has mandated Nomura to raise the risk capital.
-
Fenix24 plans to use the war chest to transform the post-breach restoration process in cyber, and to secure more partnerships with brokers and carriers.
-
The push for pricing will continue to be strong as at 1.1, but some sources suggest that the upcoming mid-year renewals could be more orderly.
-
Respondents attributed this increase to inflation’s effect on property valuations and the cost of goods, as well as to the natural catastrophe losses.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The unit will be led by GRS insurance solutions president Liz Geary, until the appointment of a global head of cyber, who will report to her.
-
Scott Bailey previously spent 12 years at CFC managing the technology and media division.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
Cyber rates in excess layers saw decreases of mid-single digits to low double digits in the last quarter while primary layers remained flat or experienced low rate rises.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Backed by Coalition’s platform, CIC will begin quoting its admitted cyber products in some states starting March, with a national roll-out expected throughout 2023.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
It is understood that most of the cuts affected employees in the sales and marketing division.
-
In tandem, Gregg Davis and Rob Glanville will join the cyber InsurTech as independent directors.
-
InsurTech Cygnvs, eight months after closing its $55mn Series A funding round, has come out of stealth mode.
-
As insurers grow more comfortable with retaining attritional cyber risk they are altering reinsurance placements.
-
The energy crisis came in as a top-four concern, with 44% of respondents expressing worries over fuel costs, supply disruptions, inflation and the effects of Russia’s invasion of Ukraine.
-
The syndicate will access first excess – and eventually primary – business for US large corporates which typically does not make it to Lloyd’s, the CEO said.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
It is understood the rationale around Coalition’s desire to sell Attune involved refocusing its story on cyber, where valuations have held up.
-
The CEO called for the formation of public-private partnerships, akin to those in place for terrorism or earthquakes, to tackle systemic cyber risks.
-
Joining from Stroz Friedberg, an Aon company, the executive will be focused on business development, strategy and execution at the organization.
-
Based in New York, the executive will oversee the newly created Alliant Cyber, one of the retailer’s 14 industry verticals.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
The executives will report to AGCS regional head of cyber, tech & media, Tresa Stephens.
-
While Canopius has been in the US for 10 years, the insurer has been building “a multi-platform approach” in which underwriters can write business on several different types of paper.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The business line’s premium increases this year were less pronounced than in 2021, when quarterly renewals were in the 50%-200% range.
-
The operation will be led by global product VP Mitesh Chauhan, who joined the cyber risk modeling firm from Entrust.
-
The cyber MGA promoted Dan Law to chief commercial officer, Theresa Le to chief claims officer and Neeraj Juneja to chief risk offer and finance SVP.
-
Global cyber premiums are expected to reach $23bn by 2025 but, with predicted global annual losses of around $945bn, roughly 90% of the risk remains uninsured.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
RPS said ransomware attacks are more sophisticated, with ransomware-as-a-service expected to become one of the biggest threats in the coming months.
-
The MGA will write the cyber business out of its recently opened Frankfurt office.
-
The intention to potentially sell Attune illustrates Coalition’s desire to refocus its story on cyber – where valuations have held best in harsh market conditions for InsurTechs.
-
Sources are expecting average rate increases between 20%-30% for accounts with standard controls in place and which have already seen double or triple digit rises.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
The proceeds will be used to drive business growth across broker networks and evolve product features.
-
Only 27% cited coverage being too expensive at renewal as their reason for changing carrier.
-
Sources said that rival MGAs on the platform were “concerned” following the At-Bay acquisition, which contributed to the exodus.
-
Cyber threats were the top overall concern for business decision-makers (59%) ahead of broad economic uncertainty (57%) and fluctuations in oil and energy costs (56%).
-
The capacity deal was brokered by Lockton Re.
-
Themes from this year’s ITC conference in Las Vegas also included the exit of less educated investors, increased appetite for venture debt and the allure of cyber.
-
Cowbell Specialty will augment the InsurTech’s existing panel of 15 reinsurance partners, without replacing any of the current programs.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The InsurTech said small businesses remain highly targeted, and having a remote workforce makes clients more vulnerable to cyberattack.
-
Cyber continued to register the largest increase in the period, while D&O saw a small price drop compared to a moderate increase in the previous quarter.
-
In the newly created position, Rudow will report to Everest North America reinsurance head Jill Beggs.
-
The executive pointed at cyber and excess and surplus carrier Lexington as businesses that AIG was seeing rapid growth.
-
The appointment marks an expansion of the agency’s financial lines portfolio, which already includes D&O, E&O, EPL, fiduciary, fidelity, and related lines.
-
The program provides up to $15mn in capacity per account and is underwritten by Ryan Specialty-owned MGU EmergIn Risk.
-
Sean Park is joining the board of directors, while Matthew Jones is the company's new chief strategy officer.
-
Claims rates also increased, with standalone policies seeing a greater increase than package policies.
-
The executive will also serve as senior underwriter of professional liability.
-
The company expanded its cyber team in LA with senior underwriter Marisa Vero and in Minnesota with underwriter Hanna Baker.
-
Tadikonda will join the Corvus board of directors and will report directly to the board.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Odyssey Group cyber chief Robert O’Connell is looking to raise up to $1bn of capital to launch a monoline cyber reinsurer, this publication can reveal.
-
The broker sees rising costs pushing more careful underwriting and rate rises across multiple business lines for the rest of 2022.
-
Beazley and Chubb are working on different approaches as the market tries to get its arms around the aggregation risk.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Vern Suckerman has been named head of US complex accounts while Rachel Rossini has been appointed product manager for cyber and technology E&O.
-
The firm has been actively building out its team with industry expertise in 2022.
-
The cyber InsurTech sits at the top of the pyramid with a $5bn valuation, but it plays in a risky sphere.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
The round closed in June with participation from Allianz X, Valor Equity Partners, Kinetic Partners, and other existing investors.
-
The cyber MGA InsurTech today announced the expansion of its relationship with Palomar through a multi-year program deal with the carrier’s E&S operation.
-
The deal enables its retail brokers to offer cyber liability coverage for small and medium-sized businesses with fewer security tools in place.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
On the property side, the costs for rebuilding a structure continue to climb and could prove to be prohibitive.
-
Inside P&C’s news team runs you through the key developments from the past week.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The capital raise included additional support from existing investors at MTech Capital and individuals from Stone Point Capital.
-
Around 16% of the wholesaler’s accounts absorbed rate rises above 20% in March and the other 31% saw rate increases between 10% and 19%.
-
Key focuses at the event included staff shortages, a slowdown in cyber attacks and the expectation of cooling market conditions.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The global damage related to cyber crime will reach $10tn by 2025, according to current estimates.
-
A reduction in incidents linked to better resilience and the Ukraine war may temper cyber price increases, the broker said.
-
Surefire Cyber will support insurers and insureds in their responses to cyber incidents, such as ransomware attacks.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Rate increases in the hard-market cyber class came in at 27.5%, down from 34.3% in the previous quarter.
-
According to a joint Marsh-Microsoft report, 75% of 660 companies surveyed said they have suffered a cyber attack of some form.
-
Companies that had easily lured investors with major premium growth are now scrambling to prove their fundamentals work, and are sitting out fundraising to avoid a down round.
-
Based in Boston, the executive will report to AGCS’ NA regional head of financial lines Joe Caruso.
-
Ho has focused in recent years on working with brokers to find cyber insurance solutions for clients facing complex risks.
-
First Connect will offer a cyber protection insurance product underwritten by BlinkSM.
-
Based in Chicago, the executive will report to NFP’s cyber senior vice president Rick Cavaliere.
-
The broker said that increased cyberattacks in Ukraine have not resulted in major insurance losses to date.
-
The executive joined AIG in early 2010 and has held myriad positions since then, including financial lines assistant underwriter and cyber specialist.
-
Cyber and M&A insurance are the emerging trends in the region fueled by increased jackpotting attacks and deal activity.
-
The executive will oversee Blackpoint Risk, the company’s cyber liability insurance offering geared for managed service providers.
-
Resilience lures Aon cyber executive Thompson as SVP of underwriting.
-
ea was previously head of commercial E&O, cyber and media liability at CNA Insurance.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Lea was previously head of commercial E&O, cyber and media liability at CNA Insurance for a little over five years.
-
Cyberattacks and data losses were the top risks with 65% and 63%, respectively, followed by cyber extortion and regulatory threats with 59% and 49%.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Cyber trends were driven by increased policyholder risk awareness and greater demand for coverage.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Corvus said Russia’s invasion in Ukraine “caused a divide in the cyber underground” as Ukraine-based actors had to relocate along with their IT operations.
-
A report from the Bermuda Monetary Authority shows how the island’s carriers have raised their worst-case estimate of cyber losses in recent years.
-
Discussions around rates remained amicable despite years of compound rises.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The conglomerate looks to step into the role of insurer of last resort amid capacity constraints and surging client demand.
-
Cyber and risk management specialist Sou Ford will move from WTW to lead Lockton’s Southeast cyber practice.
-
Aon’s E&O and Cyber Market Review found that between Q1 2019 and Q4 2021, ransomware attacks surged 323%.
-
Cyber policies already include war exclusions, but market participants now expect more explicit language and tighter terms and conditions.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
WTW forecasts that cyber rates could increase by 100% to 200% for heavily exposed industries.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The MGA’s gross written premium now surpasses $650mn.
-
The executive joins Lockton after almost 16 years working at AIG, where until recently she served as North America head of cyber.
-
Roger Francis will lead a team of incident responders and cyber security specialists across the US, London and Australia.
-
Losses from comprised business email accounts leaped 28% to $2.4bn last year, as work-related attacks remained by far the costliest type of cybercrime reported to the FBI.
-
The appointment will be essential in digitizing broad distribution networks, refining risk assessment models and increasing underwriting innovation.
-
The executive will lead the modeling of attritional and catastrophe exposures at At-Bay and create the first aggregation risk view.
-
Inside P&C’s news team runs you through the key developments from the week.
-
The insurer has transferred cyber underwriter George Cole from London to its Bermuda HQ.