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The intermediary’s London Market Appetite Survey also found increased enthusiasm for sustainable energy risks.
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The analytics firm warned of retaliatory attacks on banking and financial services, IT services, ISPs, shipping and logistics, and public utility companies.
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Philippa Berry will be responsible for leading CFC’s cyber strategy, as well as championing its cyber-related special products.
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Helen Nuttall joins from Beazley, while Patrick Cannon was most recently at Tokio Marine Kiln.
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Legal costs relating to the breach have been described as “astronomical” and sources say it is now all but certain that it would result in a full payout.
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At the ABI conference this morning, carriers were warned about crime syndicates’ use of automation to deploy cyber attacks.
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Cyber reinsurance premiums may exceed those of property cat by 2040.
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Sources told this publication Tom Draper would become head of insurance at the expansive MGA’s European operation.
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Beazley’s Smart Tracker syndicate also reported a 49% increase in GWP to $198.2mn as the company pushed ahead with top-line growth across the board.
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In the past year, criminals held more than $600mn in ransom, stole millions of citizen records, compromised a billion airline-passenger details and threatened the IT operations of 40,000 businesses.
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The role will focus on development and the provision of risk advisory services.
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Rates rocketed in the two most challenged areas of the market, while price deceleration continued in P&C, the broker’s index showed.