cyber risk

Share

CFC gets ILS & pension fund backing for Syndicate 1988 launch

Specialist cyber focused underwriter CFC has announced that backing for its newly launched Lloyd's Syndicate 1988 includes an insurance-linked securities (ILS) fund, a large pension fund, and also reinsurance firms based in Bermuda, Cayman and Japan. It's a vote of confidence for CFC's cyber underwriting, with the company acknowledged as one read the full article →

Cyber will need massive amounts of additional capital: Gallagher Re’s Newman

Underwriting of cyber insurance and reinsurance risks is going to require "massive amounts of additional capital" to support what is expected to be a particularly fast-growing class of business, according to broker Gallagher Re's Ian Newman. Newman, who is the Global Head of Cyber at reinsurance broking unit Gallagher Re, explained read the full article →

Hudson Structured & Aon team up for $70m cyber catastrophe product

Hudson Structured Capital Management Ltd., which enters into insurance and reinsurance investment business as HSCM Bermuda, has teamed up with broking powerhouse Aon for a new cyber catastrophe coverage product, that can cover systemic cyber risks for insurance and reinsurance ceding companies. The pair have already entered into their first deal, read the full article →

PCS launches Cyber RLM, a data tool for large insured cyber risks

PCS, the provider of industry loss estimates and loss data globally, has launched its first non-loss reporting platform, Cyber RLM, which will provide users with unique insights into large insured cyber risks around the globe. Containing data on many of the largest insured cyber exposures and programs, PCS Cyber RLM is read the full article →

Parametric cyber business interruption cover launched at Lloyd’s

A new cyber business interruption insurance solution using parametric triggers related to outages has been launched at Lloyd's with backing from Tokio Marine Kiln (TMK) and other members of Lloyd’s Product Innovation Facility including reinsurance firm RenaissanceRe. The parametric risk transfer product is designed to provide business interruption coverage to small read the full article →

Conan Ward & Romel Salam launch US MGA RubiQon with QOMPLX

QOMPLX, an insurtech provider of intelligent decision platforms and operator of managing general agency's (MGA), has launched US-based subsidiary MGA units named RubiQon Risk & Insurance Services and RubiQon Re, which will be led by sector veterans Conan Ward and Romel Salam. Ward and Salam both worked together at reinsurance firm read the full article →

ILS / ILW retro needed for non-affirmative cyber: Johansmeyer, PCS

As re/insurers struggle to find ways to manage their non-affirmative cyber exposures, there’s an opportunity for the insurance-linked securities (ILS) community to support an ILW-based retro market to address the issue, says Tom Johansmeyer, Head of PCS. Non-affirmative cyber risk losses occur when a policy pays out on a cyber cause read the full article →

Cyber modeller Kovrr adds John Butler of Cohen & Co. to advisory board

Cyber risk modelling company Kovrr has added new insurance, reinsurance and insurance-linked securities (ILS) expertise to its advisory board with the addition of John Butler, Head of Cohen & Company’s U.S. Insurance Asset Management Platform and Global ILS Program. Butler has worked in the reinsurance and insurance-linked securities (ILS) space during read the full article →

Why cyber re/insurance needs ILS – Q&A with Tom Johansmeyer, PCS

There is constant chatter about cyber insurance and reinsurance as a meaningful future component peril of the insurance-linked securities (ILS) asset class, but so far little transactional flow has been seen. We spoke with Tom Johansmeyer, Head of PCS, to get his view on the current status of cyber ILS. Q: read the full article →

Parametric cloud outage cyber risk transfer deal backed by Hiscox

Hiscox, the specialist insurance or reinsurance underwriter and ILS capital manager, has provided the capacity to support another novel parametric cyber risk transfer arrangement, this time covering the risk of cloud outages. Last month we reported that Hiscox was the capacity provider backing a parametric cyber risk transfer transaction that helped read the full article →