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Salvatore Sama has been named global product head for casualty, while Jane Farren has been named global head of financial professional lines. -
Chris Bruno was most recently a vice president in Lockton’s Midwest cyber broking practice.
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Aidan Flynn said that although different markets are expected to move at different speeds, the underlying trend is clear.
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The two insurers have achieved AWS cyber insurance competency and will become part of a new Amazon effort to provide quotes for cyber coverage within two days.
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Resilience CEO and co-founder Vishaal Hariprasad said cyber rates are expected to even out, and possibly creep back up, in the near term.
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Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
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The challenging funding environment has left InsurTechs with limited options for capital raising and liquidity.
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The Bermudian also revealed a $29mn restructuring charge for Q3.
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The new financing builds on the $148mn raised to date and follows recent belt-tightening measures that included layoffs.
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At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
