This is one of the most important communications on cyber insurance and reinsurance one has viewed in the past few years. It’s the Lloyds of London Q1 Market message (7th March 2024), discussing the material challenges ahead for Lloyds, that…
Good idea, bad idea or the only idea to capitalize the cyber reinsurance market? With expected GWP of between $35 and $50 billion by 2023 (depending on predictions). Cyber reinsurance will require a significant amount of capital unless things change.…
Ted Dziekanowski cyber risk management is achieved by focusing on proactive management of risk, ‘Left of Bang’. Cyber insurance as a risk transfer solution focuses on mitigating risk ‘Right of Bang’. For cyber insurance to be economically viable there has…
The leading risk for Insurance and risk managers in the UK is cyber. Julia Graham, Airmic’s CEO, the interwoven nature of risks and the rapid pace of change are intensifying cyber vulnerabilities. “I’m not surprised to see cyber risk continue…
The U.S Insurance Information Institutes (Triple I) report published 02.07.24 is an interesting read in setting out the challenges the cyber insurance industry and those it insures face with cyber. As with all reports we have to use the figures…
The insurance industry has heritage going back over 400 years. It’s had its share of ups and downs through years with the war of American Independence, the Napoleonic wars, WWI, WWII, many financial crisis, and more recently climate change and…
One report an industry does not make; but is cyber insurance heading towards a hard market? As attack frequency, complexity and severity increases, cyber regulation is implemented in the U.S and EU, the reinsurance industry looks for capacity to cover…
An interesting article on retrocession insurance, as Swiss Re purchases the cyber market’s first retrocession industry loss warranty (ILW). The $50million ILW would appear to be a toe in the water for reinsurance, as the amount is not significant. But…
Ransomware attacks may not decreasing in frequency, but they are certainly increasing in sophistication. The Year on Year rise in ransomware seems to be continuing and we are definitely seeing the complexity of attacks increase as hackers target ever more…
This an important read and development for cyber insurance and re-insurance. Munch Re one of the worlds largest cyber reinsurers has long discussed its role in cyber insurance, being prepared in 2023 to ‘Give up the cyber business over accumulation…
