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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.
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The MGA will write the cyber business out of its recently opened Frankfurt office.
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The executive will work to develop insurance products and solutions at the MGA.
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The Richard Watson-led carrier has continued to broaden its suite of products since launching at the start of 2021.
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Miris will offer up to EUR25mn of capacity to each member, with policies incepting from 1 January 2023.
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Sources told Insurance Insider that unusual activity was the result of an update to some of Lloyd’s systems, however the Corporation declined to comment on speculation.
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Consilium’s financial lines operation specialises in professional and executive risks as well as cyber.
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Ezeugo Aguta joins former colleague Richard Taylor, who left Munich Re to help Probitas enter the cyber market at the end of 2021.
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A market memo confirmed that investigations are now at an "advanced point".
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The Corporation is resetting systems as it investigates “unusual activity” on its network.
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The MGA is a “significant way down the road” in establishing an independent body in the UK for declaring and categorising cyber catastrophe events.
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The capacity deal was brokered by Lockton Re.