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Jelle Ouwehand joined Arch from Marsh, where he was a senior terrorism, PV and war broker. -
Cybersecurity basics could reduce cyberattack costs by up to ~75%.
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Businesses exceeding $50mn in revenue are 2.5 times more likely to face cyber incidents, the report found.
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The industry posted a good quarter, but reserving and loss cost concerns hardly abated.
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The construction industry remains a top target for attackers and was the most impacted sector in Q3.
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The executive will focus on securing reinsurance capacity for new programs.
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Batch coverage is also coming into focus as insurers look for ways to reduce exposure to large losses.
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Mr Cooper Group said it was the target of a 2023 hacking attack.
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The market grew at a rate of 32% annually from 2017 to 2022.
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Reserve releases for the year-to-date are higher than in prior years despite elevated concerns on casualty trends.
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The report aims to plug the gap in insurance-specific guidance.
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The year-to-date CoR was down 9.5 points to 102.8% compared to 2023.
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