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Despite the steady decrease in frequency of attacks, the costs associated with ransomware claims continue to shift as recovery remains a priority for businesses, according to a report by InsurTech MGA Corvus. -
Marsh McLennan has launched a cyber risk analytics center that will offer tools to help provide clients with insights into cyber threats.
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The carrier noted that claims on its cyber book had risen significantly since 2016, when it registered only 80 claims.
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The partnership aims to encourage stronger SMB security and protect Microsoft customers from increasing cyber risks.
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AM Best sees accumulating cyber risk in the US property market downgrading 18 US property carriers, considering Best’s Capital Adequacy Ratio.
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As carriers seek to stabilize the cyber market amid skyrocketing loss ratios, more demands for tech controls are placed on insureds.
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Speaking at InsureTech Connect, the CEO also said that while advancing the use of technology was important, the idea that InsurTechs would fundamentally change underwriting was “just hype”.
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The deal is the first Palomar has done under its PLMR-FRONT business unit.
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By moving a business from AIG's ecosystem into Coalition's, the perception of its value is transformed.
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The combined firms will form what Coalition said will be the "world’s largest commercial InsurTech".
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Toronto-based cyber InsurTech Boxx names former RSA exec Hilario Itriago its US president amid its expansion into US market.
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The explosive growth in the cyber market over the past year has created a capacity crunch for MGAs, according to a panel of experts at the Inside P&C North America conference.
