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Umbrella covers and commercial property "hardening at fastest pace since 9/11”. -
The additional investment takes the cyber specialist’s total backing to $125mn.
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The business unit was established in 2018 to monitor the company’s group-wide cyber exposure.
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There are “massive concentrations of risk”, one panellist at Insider US warned.
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The raise was led by Alpha Intelligence Capital, and was its first major InsurTech investment.
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Aviation and marine experts Dominic Toogood and Gary Moore join the firm from Prospect Insurance Brokers.
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She is set to lead the company’s US growth strategy as it expands into the admitted lines cyber market.
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Perkins arrives at the carrier after working at Lockton for five years.
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Within specialty, political risk is the sole line tipped for increased premiums.
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The incoming chief will take the helm of the recently created unit in July.
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Efforts to affirm or exclude cyber from non-specialist products are creating challenges for underwriters and brokers, writes Laura Board.
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The carrier has yet to find evidence that the incident affected its network.
