Cyber
Insurance Taskmaster Episode Five: Insuring driverless flying taxis in Milton Keynes [2042]
Insurance Post has teamed up with Verisk for a new video show, in which we tasked six industry rising stars to solve some historic challenges faced by the market over the past two centuries.
CFC's Holmes voices frustration with capital providers' nat cat 'opportunism'
CFC Underwriting’s chief underwriting officer Andy Holmes has voiced frustration with capital providers’ overlooking a “long-term opportunity in cyber” in favour of the natural catastrophe reinsurance market.
Analysts report decrease in cyber attacks so far in 2022
Cyber analysts have reported seeing both the number of significant cyber attacks and the value extracted through ransomware attacks fall this year.
CFC moots independent body to identify and categorise ‘cyber hurricanes’
CFC Underwriting has proposed setting up an independent body to categorise the severity of cyber events, claiming it would enable insurers to tackle systemic risk and pave the way for a cyber catastrophe risk market.
SSP hit by cyber security breach and $7m ransomware demand
Software house SSP has suffered a cyber security breach by the Lockbit ransomware group, affecting its internal network and systems.
Trade Voice: ABI's Hannah Gurga reinforces the vital role insurance is playing in the midst of the permacrisis
Hannah Gurga, director general of the Association of British Insurers, says the industry needs to shout about the vital role it plays in society, and argues that regulatory reform could enable it to have an even greater impact.
WTW partners with Liberty and Markel; MS Amlin's 3-year sustainability plan; Novidea appoints head of UK delivery
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Blog: Lloyd's will need to provide clear guidance for both MAs and the market when implementing cyber war policies
Lloyd’s of London recently released a proposal for its managing agents to exclude war and state-backed cyber attacks from stand-alone cyber war policies. Aaron B Cain, cyber security consultant at Altus, considers the challenges that Lloyd’s will face…
Questgates acquires CP Adjusting; Pen UW rolls out cyber risk management suite; Brokerbility shakes up leadership team
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
For the record: Lemonade joins the ABI; Lexis Nexis expands to Ireland; Jensten acquires Bennetts
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Stubben Edge and Helodrium join forces; Specialty MGA UK launches in London; PIB appoints group CFO
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Jensten buys Ravenhall; Six leave Ed for Consilium; HF moves to Media City
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Blockchain and insurance: Is there still life in this tech solution after B3i entered into insolvency?
Blockchain was touted as the technology that could revolutionise the insurance and reinsurance industry. Yet, in July, the high-profile blockchain consortium B3i entered insolvency after it failed to raise funding. Martin Friel explores what went wrong,…
US cyber MGA Resilience makes play for UK mid-market business
Cyber managing general agent Resilience will look to establish a presence in the London market before setting its sights on UK regional business, international chief underwriting officer Kyle Bryant tells Post.
Clyde & Co enhances cyber offering; Axa Retail launches digital-only brand; Allianz welcomes 37 flexible graduates
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Analysis: Lloyd’s latest cyber directive paves the way for a cyber cat market
Mandated exclusions for state-backed cyber-attacks in standalone cyber policies issued at Lloyd’s could pave the way for a separate market for cyber war and catastrophe risks, executives have predicted.
July cyber-attack causes backlog for Davies
Davies Group is working to mitigate the impact of backlogs caused by a cyber-attack it suffered at the end of July.
Intelligence: The fallout from Russia without love
On 24 February, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian War that began in 2014. Edmund Tirbutt investigates how UK insurers have responded to the knock-on effect from the war, and the impact that this might have in the long…
Companies are ‘treading a very thin line’ in avoiding data breaches
After ICO launched criminal proceedings against eight data thieves, companies have been told to revisit their cyber security to ensure they are properly secured and protected against potential data thieves as cyber attacks are on the rise.
The top 30 European Insurers 2022: A return to growth
Europe’s 30 largest non-life insurers returned to growth in 2021 and – although high inflation, supply chain disruptions and surging energy prices should translate into premium growth – Mathilde Jakobsen of AM Best explains that profitability is expected…
Auto repair firms challenge Fiat Chrysler in EU data access test case
In a landmark test case at the European Court of Justice, auto repair firms are disputing the right of original equipment manufacturers to gatekeep access to a car’s onboard data stream.
Chinese ‘coercive quarantine’ fears over Taiwan prompt semiconductor and cyber concerns
Chinese pressure on Taiwan is likely to escalate to a “coercive quarantine” in the coming months, disrupting key international supply chains, according to Intelligence analyst Dragonfly.
Analysis: What’s holding back the SME market from taking up cyber insurance?
Cyber insurance has quickly moved on from just being a nice-to-have to an essential product for many of the UK’s small and mid-sized enterprises.
London Ghost broker sentenced; Just Travel buys Alpha Underwriting; Coalition and We Fox raise $650m combined; and WTW acquires Glasgow firm
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.