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Plus a look at reinsurers’ cat budgets and all the top news from the week. -
This current hard cycle in cyber is potentially a once-in-a-generation opportunity to engineer the product as fit for purpose.
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The recruit also spent time working for Liberty Specialty Markets in Germany.
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The Week in 90 Seconds: Cyber hardening; Lloyd’s modernisation; Ardonagh re-fi; business travel pollPlus the latest on pandemic BI payments and all the top news from the week.
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The specialty insurer has brought in the underwriter following the departure of Kristen Dauphinais at the end of May.
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The carrier’s Singapore business has become the latest insurance company to be impacted by cyber criminals.
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Reinsurance market tightening and loss ratio deterioration are two factors fueling momentum in cyber rates.
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The broker said it was possible that certain personal details were accessed during the hack.
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The carrier has restructured its cyber business with stringent underwriting conditions.
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The latest funding round was co-led by Icon Ventures and Lightspeed Venture Partners.
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The carrier said on business written since the autumn, cyber claims frequency was 20% lower by policy count.
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Russia-based Revil group is reported to be behind the ransomware attack on the US IT service provider.
