Cyber
-
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.
Most Recent
-
Aon completes NFP acquisition for $13bn
April 25, 2024 -
Aon US property leader Rick Miller passes away at age 62
April 25, 2024