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Marriott hotels hack designated as PCS Global Cyber loss event

Last weeks announcement of a major cyber hack attack and resulting data breach of one of the Marriott hotel chain's reservation systems is expected to lead to a significant cyber insurance and possibly reinsurance market loss, leading Property Claim Services (PCS) to designate the event.Our sister publication Reinsurance News was read the full article →

Silent cyber has potential to cause ILS fund losses, scenario shows

A cyber attack scenario where hackers targeted a U.S. hydroelectric dam causing significant property damage through flooding, could clearly result in losses flowing through to the insurance-linked securities (ILS) market thanks to so-called silent cyber exposure.Insurance and reinsurance broking specialist Aon worked with Guidewire Software's Cyence Risk Analytics team to read the full article →

Envelop Risk adds sector veteran Brian O’Hara to board

Envelop Risk, a recently launched start-up with a focus on cyber risk underwriting and analytics provision and which we expect will engage the capital markets to explore cyber insurance-linked securities (ILS), has announced the appointment of industry veteran and former XL Chairman and CEO Brian O'Hara to its board.The appointment read the full article →