CyberCube estimates cyber insurance losses from CrowdStrike outages above $1.5 bn
Insured losses from CrowdStrike outages in the standalone cyber insurance market may reach $1.5 bn, according to CyberCube
Cyber Insurance News
Cyber insurers covers of business interruption from CrowdStrike outage
Cyber insurance provides for broad coverage of business interruption resulting from network outage. The trigger for this coverage includes System Failure
US companies suffer $5.4 bn cyber loss from CrowdStrike outage. Impact for (re)insurers
Parametrix estimates the direct financial loss for US Fortune 500 companies (excluding Microsoft) from the CrowdStrike outage at $5.4 bn
Howden highlights cyber insurance market growth by 54% by 2030
Howden Group’s fourth annual cyber report, “Risk, Resilience and Relevance,” highlights cyber insurance market stabilization last year
Cybersecurity platform YesWeHack raised €26 mn Series C led by Wendel
YesWeHack, a Bug Bounty and cybersecurity vulnerability management platform, has raised €26 mn in a Series C funding round led by Wendel
AXIS launched US-based AXIS Cyber Incident Commander
AXIS Capital has launched of a new service for US-based, direct primary cyber insurance customers – AXIS Cyber Incident Commander
Insurtech At-Bay expanded its Cyber and Tech E&O Excess & Surplus coverage
Cyber insurtech At-Bay has expanded its Cyber and Tech E&O Excess & Surplus coverage to businesses with up to $5 bn in revenue
U.S. cyber insurance market will grow to $20 bn by 2025
New cyber insurance capacity is increasingly matching fast-growing demand, particularly within the United States, and greater competition
Cyber insurtech Coalition announced Microsoft, Google and AWS integrations
Cyber insurtech Coalition announced new integrations between Coalition Control, its cyber risk management platform, and cloud services providers
Brazilian cybersecurity insurtech Bluecyber raised $1.5 mn in funding
Brazilian insurtech Bluecyber, specialising in cyber insurance, has raised $1.5 mn in funding led by venture capitalists Invisto and Bossa Invest
Cyber Insurtech Coalition announced agreement with Aspen Insurance
Cyber insurtech Coalition has announced a new, multi-year capacity agreement with Aspen Specialty Insurance Company (Aspen)
Guy Carpenter introduced CatStop+, a new cyber reinsurance
Guy Carpenter, a global risk and reinsurance specialist under Marsh McLennan, has introduced CatStop+, a new cyber reinsurance product
US Cyber Industry Loss Index plays important role in cyber-ILS expansion
PERILS and CyberAcuView announced the use of their US Cyber Industry Loss Index in the first cyber insurance risk transactions
Cowbell Cyber extended cyber insurance coverage to mid-market businesses in the UK
Cowbell Cyber Inc., a US-domiciled cyber insurer, has recently extended its cyber insurance coverage to mid-market businesses in the UK
Insurtech CyberCube launched new version of Account Manager SaaS solution
Cyber analytics insurtech company CyberCube has launched Version 5.0 (v5) of Account Manager, the software-as-a-service solution
Cyber insurtech Enveedo raised $3.15 mn seed funding led by Silverton Partners
Enveedo, a cybersecurity insurtech company with an innovative approach to integrated risk management, announced the closing of its $3.15 mn seed funding round
Howden launches new primary European Cyber & Tech E&O facility
Howden, the global insurance group, launches of one of the first dedicated European cyber and technology errors & omissions lineslips for primary business
Coalition’s data showed a 12% increase in cyber claims
Cyber insurtech Coalition released its Cyber Claims Report: Mid-year Update, which details the evolution of cyber trends during the 2023
Cyber insurtech Cowbell raised $25 mn financing led by Prosperity7 Ventures
Cowbell, a cyber insurtech for small- and medium-sized enterprises, announced a new $25 mn financing led by Prosperity7 Ventures
Cyber insurtech Corvus agreed to a $435 mn deal to be acquired by Travelers
Corvus Insurance Holdings has agreed to a $435 mn deal to be acquired by P&C insurance giant Travelers, which has approximately 30,000 employees
Cyber insurtech Upfort raised $8 mn in a Series A led by SYN Ventures
Upfort, a cutting-edge cyber security and insurance platform, has raised $8 mn in a Series A funding round led by SYN Ventures
Cyber insurtech Coalition partnered with HDI Global Specialty
Coalition, the Active Insurance provider designed to prevent digital risk before it strikes, announced a new long-term partnership with HDI Global Specialty
Cyber Insurtech Corvus enters Continental European Market
Corvus Insurance announced it has partnered with The Travelers Companies to back its Smart Cyber Insurance offering
Cyber insurtech Stoïk raised €10.7 mn to help market expansion
French cyber insurtech Stoïk has raised $10.7 mn to help with market expansion. Munich Re Ventures is leading the round with Opera Tech Ventures
Cyber insurtech Cowbell plans to expand in the UK insurance market
Cyber insurtech Cowbell has announced plans to further expand its footprint in the UK market with a new senior appointment and launch of its AI-powered cyber insurance
Most DDoS attacks launched in response to disputes over business or gaming – FBI
The majority of DDoS attacks are launched in response to disputes over business or gaming, according to federal officials investigating
Insurtech Mulberri introduced Cyber Insurance MGA
Mulberri, an AI-driven insurance platform, has officially introduced its innovative Cyber Insurance MGA (Managing General Agent)
A cybersecurity incident will cost the Brunswick $85 mn
The boating manufacturing firm Brunswick Corporation announced a cyberattack that impacted their systems and some of their facilities
Cyber-insurtech Converge Insurance raised $15 mn in Series A
Converge Insurance, insurtech in advanced cyber risk management and underwriting, announced $15 mn in Series A funding from Forgepoint Capital
Lockton Re expands partnership with cyber insurtech CyberCube
Reinsurer Lockton Re is expanding its partnership with cyber risk analytics insurtech CyberCube by licensing CyberCube’s Industry Exposure Databases
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035
Global reinsurance market has entered a post-peak pricing phase, with earnings expected to moderate in 2025–2026
The global reinsurance sector has undergone a notable transformation since the market reset, drawing sustained attention from investors and analysts
Reinsurance pricing in the European reinsurance market has started to ease after several years of steep increases. Still, underwriting standards remain strong