All Cyber attacks articles
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NewsBetter risk selection could cut 16% from cyber insurers’ loss ratios – Gallagher Re
After a global study of 62,000 organisations, the reinsurance broker suggests removing “most at risk entities” from cyber insurance books could reduce loss ratios by up to 16%.
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NewsCyber-attacks doubled since 2020 – QBE research
The number of disruptive and destructive global cyber-attacks taking place each year will increase by 105% to the end of 2024, according to a report from insurer QBE.
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NewsCyber market faces demand problem, needs pre-emptive approach – Intangic founder and CEO
MGA Intangic is in its second year, backed by AXA XL, and provides a pre-emptive approach to underwriting cyber risks.
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NewsCyber ‘perception gap’ exists in industry’s understanding of risks – Lockton Re
‘The possibility that you could have this sort of global outage is extremely remote,’ says the reinsurance broker’s cyber practice leader.
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NewsCrowdStrike – a cyber cat of sorts
The CrowdStrike cyber incident brought retail, transportation, banking, and more to a shocking standstill. In the aftermath, what can insurers do to gain clarity on the true exposures in their books before the next Blue Screen of Death?
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NewsCyber reinsurance report highlights different dynamics to cat risks – Howden Re
A first-of-its-kind study from reinsurance broker Howden Re, uses data from cyber underwriters’ modelled losses for insights into the industry’s market risk tolerance.
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NewsAlta Signa: CFO deepfakes highlight urgency for cyber risk mitigation
As cyber threats evolve, insurers and reinsurers should prioritise the dissemination of technical risk mitigation expertise to policyholders, writes Mauro Marongiu, Alta Signa’s technical head of cyber underwriting.
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NewsGlobal risks and perceptions intertwined – Interview with Zurich’s head of sustainability risk
Global tensions are rising, but risk perceptions are in the eye of the beholder. Zurich’s John Scott discussed the big picture with Global Reinsurance.
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NewsHowden names Bayon de La Tour as its new international cyber leader
The broker’s new international head of cyber will be based in Spain and was formerly head of cyber for Marsh Europe.
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NewsRansomware attacks break records, up 95% in 2023 – Corvus
Law practices, government agencies, manufacturing, oil and gas, transportation, logistics and storage sectors were among the sectors hardest hit by a record-breaking spike in ransomware attack frequency.
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NewsLloyd’s reveals global economy exposed to $3.5trn major cyber attack
A systemic risk scenario from Lloyd’s focused on “a hypothetical but plausible cyber-attack”, with the US, China and Japan hardest hit.
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NewsGlobal cyber market rockets in value - Guy Carp study
A Guy Carpenter report reveals more than three-fold increase in cyber insurance market value in four years, and models one-in-50 and one-in-200-year event cyber loss scenarios, topping out at a $33.4bn estimated potential market loss.
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NewsEnergy storage market has invisible cyber risks – Aon
The broker warned that a lack of robust cyber-security for critical operational technologies may be a weakness for battery storage risks being underwritten.
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NewsCyber MGA Intangic launches with AXA XL-backed parametric policy
The policy has two triggers: the level of malicious activity targeting a company, and a subsequent loss in value
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NewsBrit increases cyber consortium capacity by 50%
The product is designed to protect clients from the impact of physical damage arising from cyber-attacks
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NewsChaucer in partnership to insure trade secrets
Risk transfer solutions for intellectual property will help a trade secret protection ecosystem to develop
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NewsBeazley reveals 13% rise in cyber fraud claims
Organisations must get smarter about educating employees to spot fraudulent tactics
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NewsIndustry’s first cyber cat bond to ‘unlock’ market potential
The $45m bond gives Beazley protection against all perils in excess of a $300m catastrophe event
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NewsThree ways of increasing cyber insurability - sigma
There is currently a protection gap of around 90% due to the uncertain nature of systemic risk
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NewsLloyd’s finds ‘no evidence of any compromise’ following suspected cyber attack
The market has been advised that it can now restore its network services
