Lloyd’s Develops Standardized Data Requirements for Cyber Risks
Lloyd’s of London announced that a set of common core data requirements for cyber risks has been agreed by collaborating with modeling firms AIR Worldwide and RMS, along with RMS’ partner, the...
View ArticleCarpenter Forms Partnership with Symantec to Create Cyber Aggregation Model
Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., has formed a strategic alliance with cyber security specialist Symantec...
View ArticleLloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa...
A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis...
View ArticleConfusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte
Despite the rising profile of cyber risks, buyers have failed to widely embrace cyber coverage. At the same time, insurers generally have remained cautious about writing the coverage on a large scale...
View ArticleRMS Expands Range of ‘Cyber-Physical’ Models for Property Insurers
RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the expansion of its range of cyber models to include a new class of “cyber-physical” models. These include a range of cyber...
View ArticleMany Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack
Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little...
View ArticleSilent Cyber Included in Willis Re’s Cyber Risk Portfolio Modeling Tool PRISM-Re
Willis Re, the reinsurance business of Willis Towers Watson, the global advisory and broking company, has upgraded its cyber risk portfolio modeling tool PRISM-ReTM to include “silent cyber.” Willis Re...
View ArticleHow 2 Researchers Hope to Protect Power Grid with Cyber Insurance Modeling
The failure of even parts of the nation’s power grid could cause rolling blackouts that paralyze health care, traffic and business systems. With the advent of “smart” infrastructures that send data to...
View ArticleCyber Analytics Firm Envelop Risk Launches Cyber MGA
Envelop Risk, a London-based cyber insurance analytics firm, announced the launch of a cyber managing general agent (MGA). Envelop Risk provides cyber underwriting to re/insurers and partners with...
View ArticleEnvelop Risk Appoints Hannover Re’s Chatterjee as Chief Underwriting Officer
Envelop Risk, a London-based cyber insurance analytics and underwriting firm, announced it has appointed Aritra (Ari) Chatterjee as chief underwriting officer. Chatterjee was formerly the lead cyber...
View ArticleJLT Re Partners with Cyber Risk Modeling Platform, CyberCube
JLT Re, the London-based reinsurance broker and consultancy, announced it has formed a partnership with CyberCube, the cyber risk modeling platform. JLT Re’s existing cyber and enterprise modelling...
View ArticleAIR Worldwide and Capsicum Re Collaborate to Enhance Silent Cyber Models
Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber...
View ArticleIsraeli Risk Modeling Firm Kovrr Launches Silent Cyber Risk Identification...
KOVRR, a provider of predictive modeling for cyber insurance, announced a silent and affirmative cyber risk product. The new product enables insurance and reinsurance carriers to identify uncalculated...
View ArticleAIR Worldwide Develops Probabilistic Model for Global Cyber Risks
Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime...
View ArticleWhen Cyber Attack Hit Norsk Hydro, It Was Already Handling a Major Upheaval: RMS
When Norsk Hydro, one of the world’s largest aluminum producers, was hit by a major cyber attack in the early hours of March 19, it was already undergoing a major upheaval: just the day before the...
View ArticleMS Amlin Acquires Stake in Specialist Reinsurance MGA Envelop Risk
MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial...
View ArticleCyber Risk Modeling Company Kovrr Raises $5.5 Million
Kovrr, a Tel Aviv-based predictive cyber risk modeling company, announced a $5.5 Million financing round. The funding round was led by StageOne Ventures, Mundi Ventures and Innocells (the corporate...
View ArticleReinsurers Look at Cyber’s Massive Growth Possibilities—With Caution
Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and...
View ArticleTravelex Ransomware Attack Part of Growing Trend in Cyber Crime: CyberCube
The ransomware attack against U.K. foreign exchange firm Travelex is just a taste of what’s to come with cyber crime, according to experts at CyberCube, the cyber risk analytics firm. Travelex...
View ArticleU.S. Commission Explains Why It Thinks Insurance Is Failing Cybersecurity
The following excerpt is from the new report, “A Warning from Tomorrow,” on U.S. cybersecurity strategy by the Cyberspace Solarium Commission. The report contains about 75 recommendations on what the...
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