On October 31st, 2022, over 80 participants from cyber (re)insurers, policymakers, intermediaries, cyber security, and related industries, as well as academic researchers and other interested parties, gathered at the Old Library in the basement of…
Cyber insurance is designed to restore many aspects of a business following an incident. An indemnity payment covers financial loss. DFIR practitioners are sent to rebuild computer networks and more niche services to restore corrupted…
Marsh has recently released its Q4/2021 Report ([zotpressInText item="{2414728: TC4N5AEU}" etal="yes" format="%a% (%d%)"]). In the third quarter of 2021, the cost of cyber insurance in the United States rose by an average of 96 percent…
According to this year's Allianz Risk Barometer ([zotpressInText item="{2414728: KEMBKVQH}" etal="yes" format="%a% (%d%)"]), cyber risk takes the number one spot, thanks to a spate of high-profile ransomware attacks, which have pushed it up from third…
Especially large cyber insurance carriers, reinsurers, and managing general agents (MGAs) have started to build inhouse cyber security and incident response capacities to handle some of their claims. Besides the obvious economic motivation of cutting…
Cyber Accumulation is still a major concern for the cyber inusrance industry. While we have not yet seen the in the academic literature described "Cyber-Hurricane", it still lingers in the back of the mind of…
After the surge of cyber crime during the COVID 19 pandemic, spearheaded by a surge in ransomware attacks, the renewals on January 1st 2021 were the by far most anticipated in the history of cyber…
AON released its annual report on the US Cyber Market based on the NAIC Cyber supplement fillings ([zotpressInText item="{2414728: P9XXT8ZK}" etal="yes" format="%a% (%d%)"]) . Compared to the earlier estimate of [zotpressInText item="{2414728: 383M9V4J}" etal="yes" format="%a%…
Axa has for its French home market announced that it will temporally stop underwriting ransomware coverage in its cyber insurance policies ([zotpressInText item="{2414728: ZCK62HKY}" etal="yes" format="%a% (%d%)"]), waiting for clarification of the local French regulator…
Based on its own research and data from S&P Intelligence, [zotpressInText item="{2414728: 383M9V4J}" etal="yes" format="%a% (%d%)"] estimates the 2020 cyber loss ratio for the US market at 73%. If the expense ratio, which Fitch did…
