-
The cyber and technology specialist will bolster the US buyer's existing London-based operations. -
The appointment follows a $37mn fundraising.
-
The merged entity recruits Paul Western as underwriting chief.
-
The reinsurer predicts annual cyber market premium expansion of between 25 percent to 30 percent.
-
The carrier will either affirmatively cover or explicitly exclude cyber across virtually all commercial P&C policies by January.
-
The report names data theft from an email provider – at a potential cost of some $19bn – as the most likely loss scenario.
-
Level of perceived risk drops across all classes of business in the absence of attacks to rival the scope of 2018’s NotPetya and WannaCry.
-
The reinsurance broker said cyber incidents so far in 2019 already exceed the full-year totals in 2015 and 2016.
-
Industry commentators said firms are failing to check third-party vendors’ and contractors’ liability cover.
-
If the cover is exhausted, the Capital One data breach would mark a new record claim for the cyber market.
-
The new hire joins after a 16-year legal career as the broker continues intangible asset push.
-
Broader wordings are creating systemic exposure and pushing up loss ratios.
