Cyber

q2-2024-sees-12-drop-in-pacific-financial-lines-rates-marsh

Pacific financial lines rates drop 12% in Q2 2024: Marsh

July 24 2024

Financial lines fell for the fifth consecutive quarter, with commercial property rates declining for the first time since Q4 2016.

Aon: CrowdStrike outage shines spotlight on insurers' cyber policy wording

July 24 2024

There is a wide variation in how cyber insurers deal with non-malicious outages like CrowdStrike and as a result making loss estimates for the software failure is difficult.

fitch-pegs-crowdstrike-insurance-losses-in-mid-to-high-single-digit-billions

Fitch pegs CrowdStrike insurance losses in mid-to-high single-digit billion dollar range

July 23 2024

Incident unlikely to have a significant impact on global (re)insurers' results and claims should fall within primary carriers' retentions, says Fitch.

crowdstrike-update-triggers-complicated-insurance-catastrophe

CrowdStrike update triggers global tech outage

July 22 2024

Web of claims will ignite discussions around exclusions, while "silent risks" could see exposure accumulate in less obvious lines of business.

insurers-facing-claims-surge-after-crowdstrike-software-update-causes-global-tech-outage

Insurers brace for surge of claims after antivirus update causes "largest IT outage in history"

July 19 2024

Economic losses could run into the tens of billions, with claims set to trigger across multiple lines of business, notably BI, cyber, and travel.

howden-hk-appoints-flora-fong-as-executive-director-for-business-strategy-amp-growth

Howden HK names Flora Fong as Executive Director for Business Strategy & Growth

July 18 2024

Fong joins after 14 years at Marsh.

qbe-launches-global-cyber-insurance-product-qcyberprotect

QBE introduces global cyber insurance product, QCyberProtect

July 17 2024

New policy addresses a range of cyber risks and is available in ten countries including Australia, Hong Kong, Malaysia, Singapore, and Vietnam.

Tokio Marine reportedly suffers data breach

July 12 2024

Attack on an outsourced firm's server may have compromised the personal data of 63,200 policyholders.

cysurance-partners-with-sophos-and-howden-to-launch-cyber-insurance-down-under

Cysurance partners with Sophos and Howden to launch cyber product down under

July 11 2024

Backed by Lloyd's syndicate carriers, insurer launches its "inclusive and affordable" cyber products in Australia.

Howden cuts global cyber insurance market growth estimate

July 5 2024

Global cyber insurance market growth stalled in 2023 as US premiums saw their first ever decline, but opportunities exist in Asia Pac’s underserved SME sector.

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