Cyber
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Executives are seeing 5%-15% rate declines on intense competition but in excess layers pricing is down as much as 40%.
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Despite a smaller number of claims, ransomware payments hit all-time highs last year.
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The hire comes after the company’s recent rebrand from Capitola Insurance.
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Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The executive has been with Zurich since 2018.
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The cyber market faces significant claim notifications from Change Healthcare clients.
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Cyber Quoting will connect global cyber insurers and US distributors.
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The average rate increase in the cyber market stands at 1.6%.
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TMHCC said the appointments underline its "commitment to innovation, market expansion and customer service".
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CyberCube expects ransomware attack to impact both large and SME accounts.
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Participating members can purchase up to $10mn in (re)insurance.