Cyberattacks are the leading risk factor to have a ‘major impact’ over the next 12 months, insurance buye...
Insurers brace for claims from generative AI surge
Generative AI has already triggered several events that could point to increased claims for insurers
Generative AI has already triggered several events that could point to increased claims for insurers
Article / 4 months ago
Cyber insurance market poised for growth as hard market eases
A slowdown in price increases and companies hardening their cybersecurity defenses will help expand the cyber insurance market, according to industry brokers and underwriters...
A slowdown in price increases and companies hardening their cybersecurity defenses will help expand the cyber insurance market, according to industry brokers and underwriters...
Article / 9 months ago
Merck case leaves cyber insurers wanting for clarity on war exclusions
The pharmaceutical giant's court battle over coverage of its NotPetya claims has not led to hoped-for guidance on attribution of attacks, according to cyber insurance brokers...
The pharmaceutical giant's court battle over coverage of its NotPetya claims has not led to hoped-for guidance on attribution of attacks, according to cyber insurance brokers...
Article / 2 years ago
Lack of nonfungible token insurance coverage 'inexcusable' as market expands
Nonfungible tokens have grown in popularity in 2021, generating millions in sales, but there is very little insurance for this burgeoning market...
Nonfungible tokens have grown in popularity in 2021, generating millions in sales, but there is very little insurance for this burgeoning market...
Article / 2 years ago
Cyber insurers tighten underwriting, raise prices as ransomware wave hits
Ransomware attacks are becoming more targeted, sophisticated and vindictive, pushing up claims ratios and forcing insurers to respond. Some may even be considering exiting the market...
Ransomware attacks are becoming more targeted, sophisticated and vindictive, pushing up claims ratios and forcing insurers to respond. Some may even be considering exiting the market...
Article / 3 years ago
COVID-19 shows potential for cyber business interruption losses - Munich Re exec
The reinsurer's chief underwriter, Stefan Golling, also said the pandemic had highlighted the need for clear policy wording...
The reinsurer's chief underwriter, Stefan Golling, also said the pandemic had highlighted the need for clear policy wording...
Article / 4 years ago
COVID-19 crisis could be 'watershed' for cyber insurance, says Swiss Re exec
The reinsurer estimates that global cyber premiums will grow to $5.5 billion in 2020, and that the shift online caused by the pandemic will raise awareness of the need for cyber cover...
The reinsurer estimates that global cyber premiums will grow to $5.5 billion in 2020, and that the shift online caused by the pandemic will raise awareness of the need for cyber cover...
Article / 4 years ago
Cyber insurance sees steady growth despite sales, retention challenges
The cyber liability insurance market saw 13.5% year-over-year growth in 2019, but it may be underperforming its potential to expand because of complexities...
The cyber liability insurance market saw 13.5% year-over-year growth in 2019, but it may be underperforming its potential to expand because of complexities...
Article / 4 years ago
Cyber insurers wrestle with war exclusions as state-sponsored attack fears grow
There is little consensus on what constitutes modern-day war, particularly in cyberspace, and insurers are trying to strike the difficult balance between providing sufficient cover and avoiding financial ruin...
There is little consensus on what constitutes modern-day war, particularly in cyberspace, and insurers are trying to strike the difficult balance between providing sufficient cover and avoiding financial ruin...
Article / 4 years ago
