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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 …
Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …
Envelop Risk, the reinsurance managing general agent and analytics specialist, announced the launch of Envelop Underwriting, which will encompass all existing cyberunderwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925. Dom Peters has …
Pen Underwriting, the London-based managing general agent, has invested in a new cyber protection platform called “Pen Protect,” which aims to equip all its cyber policyholders around the world with an exclusive, enhanced, integrated suite of risk management tools and …
Arch Insurance Taps Symenouh From Tokio Marine as Senior CyberUnderwriter Arch Insurance has appointed Ezechiel Symenouh … This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. A summary of these new hires follows here.
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has appointed Tine Simonsen as the company’s head of Insurance for Continental Europe. As an experienced cyberunderwriter and broking leader, Simonsen will anchor Coalition’s presence and expansion in …
Brady Named Resilience Chief Underwriting Officer Resilience, headquartered in San Francisco, named Killian Brady as chief underwriting officer. Brady will oversee all aspects of the underwriting function for middle market and large enterprise clients across Resilience’s cyber and tech E&O …
As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year’s PLUS Cyber Symposium in New York City. “They’re seeking diversification in the standard …
As Cyber and Technology Errors & Omissions (Tech E&O) risks grow, insurers face increasing pressure to provide accurate, fast, and competitive coverage. Underwriters need tools that reduce complexity, integrate easily … This post is part of a series sponsored by Selectsys.
Resilience is expanding the availability of its cyber risk solutions to serve large enterprise accounts with revenue greater than $10 billion. The expanded underwriting authority provides broker partners with more options in addressing clients’ complex cyber risks. The expansion is …
Dual Breakthrough Powered by agentic automation, Cowbell is now the first insurance provider to offer cyber, professional indemnity, and management liability coverage through both a fully integrated API and a proprietary email submissions platform. Our technology ensures a seamless path forward for underwriters, agents, and insureds alike.
About Cyber Insurance | Compare Cyber Insurance Quotes Online & Get Covered Today! Compare Cyber Insurance Quotes Online & Get Covered Today! Compare cyber insurance quotes online effortlessly and protect your business from digital threats with our comprehensive guide. Lets dive into how you can get started.
The Cyber Insurance market is bracing for a massive shift, and artificial intelligence is at the center of it all. On one hand, AI is supercharging cyber threats, making attacks faster, more sophisticated, and harder to detect. So, where does this leave Cyber Insurance brokers? So, where does this leave Cyber Insurance brokers?
This edition of International People Moves details appointments at Price Forbes Re and AXA XL. A summary of these new hires follows here. Price Forbes Re Taps Howden’s Waterhouse as Head of Property Fac Price Forbes Re, the London-based specialist …
A look atand response tothe emerging risks that could dominate 2025 By Lori Widmer This year will be the year of cyber exposure. That according to the 2025 Allianz Risk Barometer, which surveys global customers as well as brokers, trade organizations, underwriters, claims professionals, and risk consultants.
Cyber attacks loom larger than ever, and generative artificial intelligence (AI) is a major reason why. At the same time, AI makes improved risk assessment and protection against cyber threats possible. For both of these reasons, artificial intelligence is reshaping cyber security strategiesincluding Cyber Liability policies.
Specialty wholesaler Flow Specialty said its artificial intelligence model has passed the Registered Professional Liability Underwriter (RPLU) exams for cyber, errors & omissions, and executive liability modules. “For far too long, the middle market segment of specialty business has been …
During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, … While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified.
Within the next decade the cyber insurance market is projected to grow to over $120 billion according to a report by Fortune Business Insights. That means there’s a lot of opportunity for insurers who are looking to either grow their cyber business or expand into the cyber market. But with growth opportunities comes risk.
As cyber threats become more advanceddriven by AI innovations and intensified by geopolitical tensionsorganizations of all sizes must rethink how they protect themselves. The Motivation Behind CRS Why Go Beyond Traditional Cyber Insurance? Reduces the human-error factor by cultivating cyber-aware behavior from day one.
Read more > Rating & Underwriting Risk Back Rating & Underwriting Risk ClarionDoor A Modern API-Driven Rating Administration Platform Featured Story Zywave’s Digital Distribution Suite – ClarionDoor has been recognized as a Luminary in the Celent Report for Insurer Stand-Alone Rating Engines – Global Edition. The challenge?
Liberty Specialty Markets (LSM), a division of the US Liberty Mutual Group, and Baobab Insurance, a digital underwriter of technical risks, are offering a new joint e-crime insurance product for small and medium-sized enterprises (SME) in Germany and Austria. LSM …
Were proud to now underwrite businesses with up to $1 billion in revenues in the US and up to 1 billion in the UK. With each expansion, we refine our underwriting models in real-time, anchoring our promise to swiftly pay claimsover $250 million disbursed to datewhen policyholders need us most.
professional liability products into four pillars: management liability, errors & omissions (E&O), cyber, and financial institutions. “After careful consideration and evaluation, we believe this streamlined underwriting approach will lead to improved … Special insurer Markel said it is realigning its U.S.
Modern Cyber policies need to do more than cover lossesthey need to actively prevent them. Thats the model Cyber Insurance brokers are starting to expect from their carriers. That number highlights why real-time recovery matters for a Cyber Liability Insurance broker. In 2023, business email compromise (BEC) caused $2.9
Protecting your business from cyber threats is a full-time job. Cyber resiliency is not easily attainable and cannot be achieved with a single tool, such as endpoint detection. Q3: I have cyber insurance. A3: Cyber insurance is an essential safety net , but it doesnt prevent breaches. Why do I need this?
As ransomware continues to spread and payment costs increase, cyber insurance rates have gone up exponentially. As a result, it is more important than ever for companies to understand their cyber vulnerabilities and exposures so they can ensure they are properly covered. One way to do this is through analytics.
We’re excited to announce that Emma Werth has been appointed Vice President of Underwriting and Reinsurance. Early in her career, she worked in customer-facing roles at State Farm, The Hartford and Liberty Mutual and then as an Underwriter at Zurich, NAS Insurance Services, Tokio Marine, and Axis Capital.
A Managing General Agent (MGA) is a specialized type of insurance intermediary that has underwriting authority granted by an insurer. Many traditional carriers want to enter these markets but lack the time or resources to build an in-house underwriting team. For instance, if a client walks into a typical brokerage in the U.S.,
Washington, D.C.-based based BreachBits has received an investment of an undisclosed amount from Lloyd’s in what is the London-based global insurance marketplace’s third strategic innovation investment from among over 150 alumni of the Lloyd’s Lab. This investment follows BreachBits’ successful co-development …
In the same way, businesses can be shown the data about their cyber risk and the loss that would follow based on real world cases. Sifting through unstructured data Today, there is a great deal more data available to increase underwriting efficiency and tailor policies.
Get millions of datapoints from the Commercial Policy Benchmark API to supplement and inform your benchmarking of your offering against competitors in Cyber, D&O, and many others. Zywaves APIs can serve many industries outside of the insurance agency.
At the point of purchase the exact moment when customers are most receptive to considering protection insurance providers are now able to make instant underwriting decisions. In the tech sector, cyber coverage, for example, often accompanies cloud computing services. Brokers enjoy similar customer access benefits, at a lower cost.
Read more > Rating & Underwriting Risk Back Rating & Underwriting Risk ClarionDoor A Modern API-Driven Rating Administration Platform Featured Story Zywave’s Digital Distribution Suite – ClarionDoor has been recognized as a Luminary in the Celent Report for Insurer Stand-Alone Rating Engines – Global Edition. The challenge?
During that time we have assisted thousands of claimants with their claims, and introduced world leading online services that take the lessons learned from claims, and use them to assist brokers and underwriters be better at their job, and to move the emphasis from price to protection.
Cyber attacks: Digital systems like payment terminals and booking systems are convenient, but they also open restaurants up to the possibility of expensive data breaches. Cyber liability insurance: Protects restaurants against the financial fallout of data breaches and cyberattacks.
In two years, he successfully implemented over 20 partnerships with major insurance brokers and significantly enhanced Arch’s digital presence while optimizing the underwriting process through automation, culminating in improved user interfaces and portals. I am thrilled to have them as part of my team.
This includes common risks like theft or fire damage but also more niche coverages like food spoilage and cyber liability. Cyber liability insurance: Provides coverage in the event of data breaches and cyberattacks, which can compromise customer and business information.
The D&O Insurance market experienced a favorable underwriting performance in 2023, with the sector seeing its best loss ratio since 2014. However, more seasoned carriers are expected to maintain stricter underwriting standards and defend their turf by keeping rates stable.
As cyber insurers move upmarket, they are increasingly encountering prospects that either already have or are considering purchasing an enterprise software license like the Microsoft E5 license. Policy Tailoring : Cyber insurance policies may need to be tailored to account for the specific protections that are offered.
In addition to his 30 years of industry experience, Stephen is currently Group Head of Financial Lines and Cyber at Zurich Financial Services. In his current role he is responsible for the Professional Indemnity, D&O, Financial Institutions, Mergers & Acquisitions, Cyber and Legal Indemnities businesses. More Cowbell!
Over the past year, Cowbell has firmly established itself as the leader in the cyber insurance market by continuously developing innovative solutions that meet the evolving demands of the industry. More Cowbell, Jack The post 2025: A Look Ahead appeared first on Cowbell Cyber.
In 2024, Zywave hosted more than 1,700 attendees and over 150 speakers across four in-person events covering a range of topics in the casualty and cyber insurance spaces. Cyber Risk Insights Conference London April 2, 2025 This acclaimed conference is back for the 12 th year with a single-day, multi-track event in London.
fire suppression, alarms) Distinguished also provides access to underwriters who specialize in hospitality risks. Their expertise ensures the quote reflects the specific exposures associated with each restaurant’s business operations.
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