Howden, the London-based insurance group, announced the launch of a blended insurance product that brings together professional indemnity, crime and cyber liability into one policy and under one limit. It brings a different approach to insurance for financial institutions, offering …
Global commercial insurance pricing rose 3% in the second quarter of 2023, down from 4% in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber rates and continuing challenges in property insurance, which …
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according to a Beazley risk and reliance report. “The perceived threat of cyber risk …
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced its cyber insurance and technology errors and omissions (E&O) insurance offerings are now available in Quebec. Brokers can receive highly streamlined quotes for small businesses to large enterprises, …
The Regents of the University of California sued Lloyd’s of London, arguing the company refused to reimburse the university system for the costs of data breaches covered in a cyber insurance policy. The dispute is over a cyber attack from …
US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage. Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in the past three years, ratings firm …
Specialist insurer Tokio Marine Kiln (TMK) has established a standalone Cyber & Enterprise Risk division as part of its effort to expand its presence in the cyber market. Led by Laila Khudairi, the Cyber & Enterprise Risk division comprises cyber, …
The Federal Bureau of Investigation and Boston Police reported they have arrested a cyber insurance attorney in connection with a series of sexual assaults and kidnappings in the Boston area about 15 years ago. At a press conference on Tuesday, …
For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up 11% in first quarter 2023 compared to …
The Federation of European Risk Management Associations (FERMA) said it has concerns that the cyber insurance market is “evolving in isolation from the industries which it insurers,” and is calling for more certainty regarding the long-term viability of the product. …
