More cyber reinsurance rate increases can be expected as reinsurers seek to regain underwriting profits in their cyber portfolios, according to a report published by S&P Global Ratings. “Reinsurers had a difficult 2022 due to low profitability and even underwriting …
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it will enter the excess cyber insurance market in the United Kingdom to help protect businesses with enhanced coverage. By adding additional capacity to the market in this …
Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone Ridge is supporting the transfer with …
Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with the potential for additional tranches to be released …
As the Roman God Janus (for which of course the month January takes its name) reflects both looking backwards and forwards in transition, the dawn of a New Year provides a great opportunity to pause and consider where the cyber …
Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …
This edition of International People Moves details appointments at Everest Reinsurance and BMS Re. A summary of these new hires follows here. Everest Re Taps Nationwide’s Rudow as Global Head of Cyber Reinsurance Everest Reinsurance, the reinsurance division of Everest …
The cyber re/insurance protection gap provides an opportunity for insurance-linked securities (ILS) investors, which historically have filled the gaps where traditional capital has either retrenched or is unavailable, according to a report published by S&P Global Ratings. “The demand for …
Three regional cyber conflicts could lead to infrastructure attacks and damaging cyber espionage in 2022, a new report from cyber analytics company CyberCube says. The current cyber landscape, cyber hostilities between Israel and Iran, India and Pakistan, and China and …
This edition of International People Moves details appointments at Willis Towers Watson; Ryan Specialty’s MGU, EmergIn Risk; and Gallagher Re. A summary of these new hires follows here. WTW Names Aon’s Wegbrans as Global Head of Broking Insurance broker Willis …
