Insurance Journal

JULY 22, 2024

Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a cyber insurance industry not known for …

Cyber 299

Cyber Policy Insurance Industry Insurer 299

Insurance Journal

JULY 31, 2024

Verisk’s Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes what has come to be known as the CrowdStrike event will cause …

Cyber 277

Cyber Claim Insurer Insurance 277

Insurance Journal

OCTOBER 18, 2024

Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, has become the first cyber insurance provider in the UK to launch a service dedicated to recovering funds stolen by cyber attackers. The cyber insurer’s new UK “clawback” service …

Cyber 264

Cyber Agents Insurer Insurance 264

Insurance Journal

AUGUST 4, 2024

Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter’s Cyber Center of Excellence, said he sees a three-party system emerging between insurers, policyholders, and the …

Cyber 261

Cyber Risk Policyholder Insurer 261

Insurance Journal

OCTOBER 29, 2024

The Hartford and cyber-MGA Coalition announced a strategic, long-term capacity partnership in response to growing customer and broker demand for Coalition’s active cyber insurance approach in the UK market. The new capacity agreement combines the established strength of The Hartford …

Cyber 262

Cyber Broker Insurer Insurance 262

Insurance Journal

OCTOBER 31, 2024

Howden, the London-based insurance intermediary group, announced the launch of Howden Safe+, a cyber insurance solution aimed at clients with revenues between $250 million and $2 billion. Safe+ simplifies the procurement process by reducing the number of questions required at …

Cyber 274

Cyber Insurer Insurance Insured 274

Insurance Journal

SEPTEMBER 8, 2024

A new report from Marsh McLennan and Zurich titled “Closing the cyber risk protection gap” is calling for a closer collaboration between the insurance industry and the public sector as cyber insurance coverage gaps remain. “Both the insurance industry and …

Cyber 241

Cyber Insurance Industry Protection Risk 241

Insurance Journal

JANUARY 7, 2025

said it is forming a new subsidiary for cyber and technology errors and omissions insurance products. Old Republic Cyber Inc. Old Republic International Corp. will be led by CJ Pruzinsky, formerly of Resilience. He will serve as president of the …

Cyber 245

Cyber Insurer Insurance Insured 245

Insurance Journal

DECEMBER 17, 2024

This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh … A summary of these new hires follows here.

Cyber 254

Cyber Underwriter Underwriting Marine 254

Insurance Journal

DECEMBER 16, 2024

The state of Rhode Island is dealing with a cyber attack that has shut down a portal citizens use to access health insurance and other social services. Governor Dan McKee said that on December13, the state was informed by its …

Cyber 243

Cyber Insurer Insurance Insured 243

Insurance Journal

APRIL 2, 2025

Cyber risk analytics firm CyberCube in a report said the cyber insurance market continues to underserve small businesses although these businesses represent a significant share of the global economic output. “This protection gap presents both an opportunity and a responsibility …

Cyber 169

Cyber Insurance Insured Insurer 169

Insurance Journal

OCTOBER 21, 2024

Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …

Cyber 262

Cyber Underwriter Underwriting Risk 262

Insurance Journal

OCTOBER 28, 2024

A new report from Gallagher Re has found that cyber insurers could reduce loss ratios up to 16% by removing most-at-risk entities. Using independent analysis of cybersecurity performance data provided by Bitsight in combination with claims data, the study uses …

Cyber 248

Cyber Claim Risk Insurer 248

Insurance Journal

DECEMBER 11, 2024

Envelop Risk, the data-driven cyber reinsurance and analytics specialist, announced it has just completed a capacity agreement with MS Reinsurance for a further three years. Further to that, MS Reinsurance recently became a client of Envelop’s new Solutions Business with …

Cyber 253

Cyber Risk Insurer Insurance 253

Insurance Journal

JULY 24, 2024

billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies … The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4

Financial Loss 321

Financial Loss Cyber Insurance Policy Insurance 321

Insurance Journal

DECEMBER 4, 2024

Aon Names O’Connell as Global Cyber Strategy and Growth Leader Aon plc named Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. O’Connell will be based in New York. Previously, O’Connell served …

Cyber 246

Cyber Insurer Insurance Insured 246

Insurance Journal

OCTOBER 7, 2024

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has appointed Tine Simonsen as the company’s head of Insurance for Continental Europe. As an experienced cyber underwriter and broking leader, Simonsen will anchor Coalition’s presence and expansion in …

Cyber 297

Cyber Underwriter Underwriting Agents 297

Insurance Journal

MARCH 9, 2025

The history of insurance dates back as far as 2000 BCE, when merchants and traders developed basic risk-sharing agreements to protect against financial losses from unpredictable events. At its most basic, insurance as a concept was merely a financial safety …

Financial Loss 234

Financial Loss Cyber Insurance Insured 234

Insurance Journal

OCTOBER 8, 2024

Intersys, the UK-based provider of cyber risk management solutions, announced its expansion in the UK insurance market with the opening of an office in Leadenhall Market in London. Intersys’ London office will serve as a hub for delivering cutting-edge cyber …

Cyber 269

Cyber Insurance Insured Insurer 269

Insurance Journal

SEPTEMBER 10, 2024

Insurers and asset managers worldwide continue to focus on cybersecurity amid growing risks, according to findings from a Moody’s Ratings survey that polled 110 companies operating across both sectors. Respondents’ total investment in cybersecurity rose by 53% between 2019 and …

Cyber 254

Cyber Insurance Insured Insurer 254

Insurance Journal

DECEMBER 19, 2024

Generali Global Corporate & Commercial Taps Allianz’s Moro as Head of Cyber Insurance … This edition of International People Moves details appointments at Generali Global Corporate & Commercial (GC&C) and the broker Miller. A summary of these new hires follows here.

Commercial 214

Commercial Cyber Broker Insurance 214

Insurance Journal

JANUARY 28, 2025

DUAL Europe announced the launch of DUAL Cyber Active Protect, a new product that combines comprehensive cyber insurance with proactive cyber prevention services. It also has launched a new entity DUAL Cyber Prevention and Response (DUAL CPR) which …

Cyber 166

Cyber Protection Insurer Insurance 166

Relation

MARCH 19, 2025

In today’s digital landscape, the threat of cyber attacks has escalated, posing significant risks to businesses of all sizes. Why Traditional Business Insurance […] The post The Rising Threat of Cyber Attacks & Why Cyber Liability Insurance Is Essential for Businesses appeared first on Relation Insurance.

Cyber 52

Cyber Liability Insurance Liability Insurance 52

Insurance Journal

MARCH 19, 2025

Marsh, the insurance brokerage business of Marsh McLennan, announced the launch of Cyber Echo Encore, an enhancement to its existing Cyber Echo insurance facility. The facility’s enhancement provides Marsh clients with the option to access up to $45 million in …

Cyber 133

Cyber Insurance Insured Insurer 133

Insurance Journal

JULY 25, 2024

Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday. A software bug in cybersecurity firm CrowdStrike’s quality-control system caused the software update that …

Cyber 268

Cyber Insurance Insured Insurer 268

Insurance Journal

DECEMBER 3, 2024

A new report on emerging risks affecting wealthy households — those with assets of $500,000 to $5 million — highlights climate change, theft of collectibles and cybersecurity as top concerns. Chubb’s new “2024 Wealth Report: Cultivating Resilience in a Changing …

Cyber 284

Cyber Theft Risk Insurance 284

Insurance Journal

NOVEMBER 25, 2024

Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New …

Auto Insurance 264

Auto Insurance Cyber Insurance Quotes Insurance 264

Insurance Journal

MARCH 16, 2025

As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year’s PLUS Cyber Symposium in New York City. “They’re seeking diversification in the standard …

Cyber 150

Cyber Insurance Carrier Risk Underwriter 150

Insurance Journal

SEPTEMBER 9, 2024

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk 293

Risk Cyber Premium Insurer 293

Insurance Journal

DECEMBER 30, 2024

Readers of Insurance Journal were drawn to South Central headlines detailing the complexities facing the insurance industry, from legal and regulatory issues to the evolving landscape of cyber threats and natural disasters. Other popular topics include insurance fraud and unscrupulous …

Cyber 264

Cyber Insurance Industry Insurance Insured 264

Insurance Journal

NOVEMBER 6, 2024

Chaucer has launched a new nuclear insurance policy that provides nuclear power plants (NPP) with insurance cover for cyberattacks. Called CyNuC, the malicious act cyber insurance policy was developed specifically by Chaucer’s Lloyd’s Syndicate 1176 in conjunction with the insurer’s …

Cyber 239

Cyber Insurance Policy Insurance Insured 239

Insurance Journal

APRIL 2, 2025

Specialist insurer CFC announced a new cyber product Cyber Proactive Response (CPR) aimed at businesses with revenues up to $250 million. CFC said the new product includes two firsts for the cyber insurance industry. Policyholders will not only …

Cyber 130

Cyber Policyholder Insurance Industry Insurer 130

ProWriters

FEBRUARY 23, 2025

As war is driving cyber security concerns around the globe, more organizations are turning to Cyber Insurance for protection. Cyber Insurance war exclusions can leave businesses vulnerable to financial loss. However, Russian-sponsored cyber operations against Ukraine have continued. It isn’t.

Cyber 53

Cyber Insurance Insured Insurer 53

Central Insurance

JANUARY 14, 2025

Discover how E&O insurance complements cyber liability coverage to protect businesses from professional risks, data breaches, and unexpected challenges. The post Does Errors & Omissions (E&O) Insurance Cover Cyber? appeared first on Central Insurance Blog.

Cyber 130

Cyber Liability Insurance Insured 130

Insurance Journal

OCTOBER 10, 2024

Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging cyber trends and their impact on …

Cyber 254

Cyber Claim Insurer Insurance 254

Insurance Journal

MARCH 14, 2025

A softer-than-expected market kept insurance premiums for technology companies down or flat in some lines in 2024, according to a new report from business insurance platform Embroker. Embroker’s 2024 Business Insurance Index: Tech Sector found average errors & omissions/cyber premiums …

Policy 201

Policy Cyber Premium Business Insurance 201

Insurance Journal

NOVEMBER 3, 2024

Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its†2024 Cyber Claims Report: Mid-Year Update, which details emerging cyber trends and their impact on policyholders …

Cyber 262

Cyber Policyholder Claim Insurer 262