Cyber

The business line’s premium increases this year were less pronounced than in 2021, when quarterly renewals were in the 50%-200% range.

The operation will be led by global product VP Mitesh Chauhan, who joined the cyber risk modeling firm from Entrust.

The cyber MGA promoted Dan Law to chief commercial officer, Theresa Le to chief claims officer and Neeraj Juneja to chief risk offer and finance SVP.

Global cyber premiums are expected to reach $23bn by 2025 but, with predicted global annual losses of around $945bn, roughly 90% of the risk remains uninsured.

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

RPS said ransomware attacks are more sophisticated, with ransomware-as-a-service expected to become one of the biggest threats in the coming months.

The MGA will write the cyber business out of its recently opened Frankfurt office.

The intention to potentially sell Attune illustrates Coalition’s desire to refocus its story on cyber – where valuations have held best in harsh market conditions for InsurTechs.

Sources are expecting average rate increases between 20%-30% for accounts with standard controls in place and which have already seen double or triple digit rises.

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

Inside P&C’s news team runs you through the key highlights of the week.

The proceeds will be used to drive business growth across broker networks and evolve product features.