Cyber

Inside P&C’s morning summary of the key stories to get you up to speed fast.

There is a “confluence of factors” making the current raising environment more challenging for companies, the CEO said.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The executive said that NA financial lines rates and pricing in aggregate were down 4.8% and 3.8%, respectively, in Q3 as Chubb is trending financial lines loss costs at 4.7%.

The report said that, to date, ransomware victim numbers for 2023 have already surpassed those for the entirety of either 2021 or 2022.

Current cyber brokerage leader for the US and Canada, Meredith Schnur, will succeed Reagan as cyber practice leader, US and Canada.

Parent Cowbell Cyber launched the E&S carrier a little over a year ago as part of Cowbell’s transition from an MGA to a full-stack insurance carrier.

The International Underwriting Association has urged cyber insurers, brokers and clients to focus on risk management to help better respond to claims.

Two studies have found that, while almost a third of back-up attempts fail to restore system data after a ransomware attack, cybercriminals are refining their methods.

Pera is launching as a division of Desq — USQRisk’s managing general agent accelerator/incubator — and is the first program Desq has brought to market.

A number of players suggested that the cost components of first-party claims were up between 30%-50% on that seen during Ransomware Wave One.

The company’s Las Vegas casinos were hit by a cyberattack last month where employee login details were stolen.