Cyber

Ransomware attacks are increasing in frequency yet becoming less effective or financially viable for threat actors, according to cyber threat intelligence principal William Altman.

The firm has also appointed Moore and Bye as cyber underwriters in London and Singapore.

Cyber GWP could exceed $50bn by 2030, the broker predicts.

The quota share cyber reinsurance market is finely poised, with good appetite for strong cyber writers, but reinsurers are cautious of new writers or fronted MGAs.

Following Neil Arklie's exit, cyber underwriting performance manager Maria Mathews Saunders will manage the class, reporting directly to the head of underwriting performance.

The broker used three major cyber models to analyse the drivers of model variability, with revenue coming top as the most prominent driver of loss variability.

Kelly Butler will be responsible for the strategic development and delivery of Marsh UK cyber insurance and placement capabilities.

Europe is "well equipped" to become a leader in cyber security protection, says Axa XL's Ana Dores.

The executive joins from Crum and Forster, with 20 years’ cyber experience.

The new SPA will write cyber reinsurance initially and could progress to writing insurance.

The cyber MGA can now serve clients in Italy, Spain, Ireland, Sweden and Denmark.

Insurers are looking ahead to possible fallout from issues such as cyber risks and the impact of AI on the workforce, while still seeing these new trends as opportunities to capture.