Cyber
-
Beazley has tapped Melissa Carmichael as head of US cyber, effective immediately.
-
Some see flat renewals this year, while others report deployment of larger lines.
-
Global attacks hit a record high in 2023 and show no sign of slowing in 2024.
-
Executives are seeing 5%-15% rate declines on intense competition but in excess layers pricing is down as much as 40%.
-
Despite a smaller number of claims, ransomware payments hit all-time highs last year.
-
The hire comes after the company’s recent rebrand from Capitola Insurance.
-
Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
-
The broker used a consensus-based hypothetical cat event type to analyse its global impact.
-
The executive has been with Zurich since 2018.
-
The cyber market faces significant claim notifications from Change Healthcare clients.
-
Cyber Quoting will connect global cyber insurers and US distributors.
-
The average rate increase in the cyber market stands at 1.6%.
-
TMHCC said the appointments underline its "commitment to innovation, market expansion and customer service".
-
CyberCube expects ransomware attack to impact both large and SME accounts.
-
Participating members can purchase up to $10mn in (re)insurance.
-
The project is not immediately moving forward due to lack of client demand.
-
The deal adds to Aspen’s existing support of the InsurTech in the UK and Canada.
-
Many carriers’ views on cyber are mixed, the agency said.
-
The MGA will be offering $10mn limits for $300mn-$10bn companies.
-
Dejung spent 13 years at Scor, most recently as cyber CUO.
-
He was most recently cyber product leader at Zurich NA.
-
It’s unsurprising, following the Corvus-Travelers transaction.
-
In September 2023, Cowbell made the same number of staff cuts.
-
The Coalition Cyber Threat Index predicts a jump in exploit-based cybercrime this year.