Global reinsurance can expect to face market “headwinds” in 2020, despite strong capitalisation and rising pricing, ratings agency Moody’s has said.
The challenges of modelling cyber are well known—lack of event data and expansions of coverage among them. CyberCube Analytics and Guy Carpenter have explored the size and shape of cyber catastrophes in a new report: “A US Cyber Insurance Industry Catastrophe Loss Study: 2019 Looking Beyond the Clouds”.
Insurers would benefit from forming deeper relationships with their reinsurers, working increasingly collaboratively as opposed to having a largely transactional arrangement, according to Ian Thompson, the group chief claims officer of Zurich Insurance Group.
Data theft from major email provider is most likely cyber catastrophe, finds Guy Carpenter and CyberCube Analytics
Data loss from a leading operating system provider could rack up insurance losses of more than $23 billion, according to a study of major cyber risks.
Insurance technology firm Tremor has raised $10 million in new funding, with industry veteran WR Berkley joining existing backers, including venture capitalist Anthemis Group, the lead investor.
Broker Marsh has recruited senior cyber, cryptocurrency and digital asset insurance experts from MS Amlin and Willis Towers Watson for its UK financial & professional (FINPRO) practice.
New Dawn Risk is offering a new segmented product aimed at covering the risk of cyber attacks in the UK.
Global reinsurer SCOR has committed €250 million investment to its new three-year strategic plan that includes goals to enhance shareholder value, make greater use of new technologies, and generate 4-7 percent growth per year.
Electric car maker Tesla has entered the insurance market, and some commentators have said it seems like a smart move.
Swiss Re and specialist reinsurance broker Capsicum Re have teamed up to co-create a new 'holistic' cyber reinsurance solution that they hope will set the standard for the industry while helping insurers better manage their silent cyber exposures and risks.