Cyber risks are one of the biggest threats to the digital and networked economy, cites Munich Re, emphasizing that the most important thing for companies is to ensure they have the best possible technical prevention. Torsten Jeworrek, member of Munich Re’s Board of Management: “Cyber risks are one of the biggest threats to the networked… Continue reading Cyber Insurance Market to Double by 2020: Munich Re
Tag: cyber insurance
Aon Offers $350M Reinsurance Capacity for Silent Cyber Solutions
Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, is creating new reinsurance capacity in cyber and launching its silent cyber solution. Working with key reinsurers in Bermuda, London and Europe, Aon has already sourced $350m of capacity prior to launch. The facility will protect insurance carriers… Continue reading Aon Offers $350M Reinsurance Capacity for Silent Cyber Solutions
Swiss Re Corporate Solutions Appoints Sandy Codding as Global Head Cyber & Technology
Swiss Re Corporate Solutions appoints Sandy Codding as Global Head Cyber & Technology, effective immediately. In this role, Mr. Codding is responsible for overseeing cyber and technology underwriting guidelines, rating methodology, distribution relationships, product sales and new product development. Globally, he will focus on growing Swiss Re Corporate Solutions’ offerings in the small and middle… Continue reading Swiss Re Corporate Solutions Appoints Sandy Codding as Global Head Cyber & Technology
Uncertainty is Widespread Across Companies Over Who Takes the Lead on Cyber: WTW
A majority of executives around the world feel they face a “specialist-generalist” dilemma as to whom leads on cyber resiliency due to its critical nature across the company, but also the recognition that specialization is necessary. This is according to the results of a global survey conducted by The Economist Intelligence Unit (EIU) and sponsored… Continue reading Uncertainty is Widespread Across Companies Over Who Takes the Lead on Cyber: WTW
Top Cities Looking to Purchase Cyber Insurance
An official responsible for safeguarding the fourth-largest U.S. city’s system says that hackers are constantly probing for “the one flaw overlooked” in Houston’s computer network. “Compromise is inevitable,” said Christopher Mitchell, chief information security official, at a Houston City Council hearing last month. His presentation helped persuade local lawmakers they needed a $30 million cybersecurity… Continue reading Top Cities Looking to Purchase Cyber Insurance
AIR Worldwide and Capsicum Re Collaborate to Develop Silent Cyber Modeling Capabilities
Catastrophe modeling firm AIR Worldwide (AIR) today announced that it is collaborating with Capsicum Re, a full-service global reinsurance broker, as part of a joint effort to enhance the insurance industry’s modeling of what many refer to as “silent” cyber incidents. Capsicum Re has also adopted AIR’s cyber risk modeling and analytics platform, ARC, which… Continue reading AIR Worldwide and Capsicum Re Collaborate to Develop Silent Cyber Modeling Capabilities
Cybersecurity in the Maritime Industry
The global shipping industry – much like air, road and rail transportation – is undergoing a technological revolution. From hull cleaning to collision avoidance systems, automation has made incredible advances in recent years. There is more to come, too. Norwegian company Yara has partnered with the engineering group Kongsberg with plans to launch the world’s… Continue reading Cybersecurity in the Maritime Industry
Travelers Says It’s in the ‘Right Spot’ for Cyber Insurance Exposure
Travelers Cos Inc. plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of specialty insurance said on Monday. “We feel like we’re just in the right spot,” Thomas… Continue reading Travelers Says It’s in the ‘Right Spot’ for Cyber Insurance Exposure
Trump Administration Mulling Nationalization of 5G Network
Top national security officials within the Trump administration are reportedly weighing whether to build a nationalized mobile wireless network within the U.S., an effort aimed at protecting the country’s wireless systems from China and other outside actors. Senior officials learned about the administration’s proposal to centralize the nation’s 5G network recently, according to a memo and PowerPoint deck presentation obtained by Axios on… Continue reading Trump Administration Mulling Nationalization of 5G Network