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Markets/Coverages: Mosaic Offers Cyber/Financial Institutions Cover for Digital Assets

Insurance Journal

Mosaic Insurance, the Bermuda-based global specialty insurer, has entered the digital asset market, launching a combined cyber and financial institutions (FI) crime product that provides robust protection to the rapidly growing, yet historically underserved sector. The new modular product suite …

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Behind the Surge: What Cyber Claims Say About the Future of Risk

Insurance Journal

cyber insurance market witnessed a surge in reported claims, reaching a record 33,561 incidents, according to the 2024 NAIC Cyber Insurance Report. This escalation underscores the growing complexity and frequency of cyber threats for businesses across all sectors.

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Markets/Coverages: Markel Launches Pre-Loss Services for UK Cyber Clients

Insurance Journal

Markel Insurance, the insurance operations within Markel Group Inc., These new offerings include a complimentary one-hour call with an experienced cyber and data risk lawyer from Markel Law to … announced the launch of its pre-loss services for UK Cyber360 policyholders.

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Zurich Insurance Buys Canadian Insurance Technology Firm BOXX

Insurance Journal

Zurich Insurance Group AG agreed to buy BOXX Insurance Inc, a Canadian cyber risk management firm, marking the Swiss insurer’s latest push into the insurance technology sector. The acquisition will see BOXX becoming part of Zurich’s platforms business, Zurich Global …

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Middle East Tensions Boost Underwriting Risks Across Re/Insurers’ Portfolios: Report

Insurance Journal

Marine, aviation, cyber, and terrorism insurers face immediate underwriting pressures and potential accumulation losses as a result of heightened hostilities between Iran and Israel, according to Morningstar DBRS. In addition, the report said, reinsurance capacity in certain business lines could …

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Cyber Insurance Firm Coalition Gets $30M Equity Investment From Mitsui Sumitomo

Insurance Journal

Global cyber insurance provider Coalition announced a new $30 million equity investment from Insurance Co., MSI), a member of MS&AD Insurance Group. The investment anchors a strategic partnership aimed at bringing what San Francisco-based Coalition calls its “Active Insurance” …

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Beazley Report: US Executives Misjudge Cyber Preparedness

Insurance Journal

based executives feel more prepared to counter cyber threats, potentially indicating a false sense of security because many companies lack the ability to be adequately prepared, according to a new report from specialist insurer Beazley. According to the report, “Spotlight …