-
Plus all the top news and latest people moves of the week.
-
Cyber rates in excess layers saw decreases of mid-single digits to low double digits in the last quarter while primary layers remained flat or experienced low rate rises.
-
It is understood that Axis and Canopius lead the facility, which considers clients from any industry sector in providing excess capacity.
-
Businesses are increasingly opting not to take up cyber insurance amid rising costs, despite the growing threat from cyberattack, according to the British Insurance Brokers’ Association (Biba).
-
InsurTech Cygnvs, eight months after closing its $55mn Series A funding round, has come out of stealth mode.
-
The regulator examined carriers’ ability to model nat-cat and cyber events, with mixed results.
-
The transaction is the first proportional deal for cyber risk in the capital markets.
-
More quota share capacity was on offer, but reinsurers were still pushing to manage exposures through loss caps.
-
As insurers grow more comfortable with retaining attritional cyber risk they are altering reinsurance placements.
-
The energy crisis came in as a top-four concern, with 44% of respondents expressing worries over fuel costs, supply disruptions, inflation and the effects of Russia’s invasion of Ukraine.
-
The underwriter has worked at companies including WTW, AGCS and Arch in a career spanning more than 20 years.
-
Beazley’s $45mn first-time cyber cat bond offered all-perils coverage, though some expected early deals to start with limited scope.