-
Average rate increases went to 5.6% in June 2024 from 28.2% in June 2023 . -
The promotions will help TransRe strengthens its cyber focus.
-
It is understood that the shutdown will impact about 25 employees.
-
Worsening claims activity, privacy concerns and emerging threat actors have yet to reflect in pricing.
-
Gangu will likely take a gardening leave after vacating his post to consider future steps.
-
Gittler joined Axa XL in 2012 and had led the cyber underwriting team since 2021.
-
The capacity increase follows the debut of new cyber risk management capabilities.
-
Improved cyber hygiene and strong insurer competition has driven rate reductions.
-
Launched in 2021, Axis is both an investor and capacity provider.
-
It said improvements in cyber hygiene, underwriting and policy language were contributing factors.
-
From a buyer and underwriter perspective, managing top risks needs fresh approaches.
-
Kinsale CEO Mike Kehoe said social inflation is unabating, but losses fuel the industry.
