Cyber

Oliver Delvos will lead Corvus’s office in Frankfurt, Germany, which is slated to open later in 2022.

There is a nervousness among both brokers and underwriters around what compounding rate rise may mean for appetite for the product.

The analytics company said healthcare, education, manufacturing and utilities sectors could face ransomware attacks.

Plus the latest executives on the move and all the top news of the week.

The New Jersey Superior Court rejected insurers’ attempts to apply a war exclusion to prevent paying out for BI losses.

Liz Kim is joining Gallagher Re’s 40-plus-strong cyber team from Hiscox, where she has spent more than 12 years.

International CUO Kyle Bryant declined to specify when the company would be up and running but said it was in advanced discussions and “quite confident” of landing a deal soon.

Sources said there was still uncertainty over whether the 2021 underwriting year would turn a profit.

Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.

The business will use the investment to accelerate growth and fund global expansion.

The former Marsh broker was initially slated to join Lockton Re’s cyber reinsurance practice.

Sources have told Insurance Insider that the majority of Beazley’s planned income is driven by rate increase, with limited new business.