Aflac targeted by cybercriminal group as insurance sector faces ongoing attacks
A sophisticated cybercrime group that has been targeting insurance companies launched an attack on Aflac
Cyber Insurance News
Cyber insurtech Baobab secured €12 mn in Series A
Baobab, a Berlin-based cyber insurance company, secured €12 mn in a Series A funding round led by Viola FinTech and eCapital
MetLife, in partnership with Aura, launched digital cyber safety tool for children
MetLife, in partnership with Aura, has launched a digital safety tool designed to help parents monitor and support their children’s online activity
Lloyd’s invested in cyber insurtech BreachBits
Lloyd’s has invested in BreachBits, a cyber risk technology company founded by former US military cyber warfare professionals
Lemonade reports driver’s license data exposure linked to quote system flaw
Insurtech Lemonade disclosed that the driver’s license numbers of approximately 190,000 insurance applicants were mistakenly shared
Landmark Admin updated the number of individuals affected by cyberattack to 1.6 mn
Landmark Admin LLC has updated the number of individuals affected by last year’s cyberattack to 1.6 mn, according to a data breach notice
Marsh launches CyberShore Bermuda up to $30 mn in excess cyber insurance capacity
Marsh, the insurance broker and risk advisor, and a business of Marsh McLennan, announced the launch of CyberShore Bermuda, an exclusive, excess cyber insurance
A growing cyber insurance protection gap is affecting small businesses – CyberCube report
A growing cyber protection gap is affecting small businesses. A recent report by CyberCube outlines a growing gap in cyber insurance coverage
FMA files civil case against IAG New Zealand over $19.3 mn in overcharges affecting 269,000 customers
The Financial Markets Authority (FMA) has filed civil proceedings against IAG New Zealand in the High Court in Auckland for breaching fair dealing provisions under the Financial Markets Conduct Act
Willis expanded CyXS Plus and CyXS Co cyber facility
Willis expanded its CyXS cyber facility, now offering $115mn of capacity through Lloyd’s syndicates and up to $40mn from insurers outside Lloyd’s
United HealthCare settles $3.5mn lawsuit over unsolicited AI robocalls
United HealthCare Services agreed to a $3.5mn settlement in a class-action lawsuit over claims it used artificial and prerecorded voices
New York attorney general sues Allstate over National General’s cybersecurity failures
Allstate Corp. is being sued by the New York attorney general, who claims its subsidiary, National General Holdings Corp., failed to protect consumer data
Coalition secured a $30 mn equity investment from Mitsui Sumitomo Insurance
Coalition, a San Francisco-based cyber insurance provider focused on preventing digital risks, has secured a $30 mn equity investment from Mitsui Sumitomo Insurance
Arthur J. Gallagher & Co. agrees to $21 mn Settlement over 2020 data breach
Arthur J. Gallagher & Co. (AJG) has agreed to settle a class-action lawsuit for $21 million following a 2020 data breach that compromised personal information
Globe Life expands cyber-attack impact, notifies 850,000 more individuals
Globe Life has expanded the number of individuals potentially affected by a cyber-extortion attempt last year
CyberCube and Acclaim Insurance Brokers partner to improve Cyber Risk Assessment
CyberCube, a provider of cyber risk analytics, has partnered with Singapore-based Acclaim Insurance Brokers to improve cyber risk evaluation
WTW introduced CyCore Asia, a cyber insurance facility in Singapore and Hong Kong
Willis Towers Watson (WTW) has introduced CyCore Asia, a cyber insurance facility designed for businesses in Singapore and Hong Kong
FERMA called on the EU Council to prioritize strengthening cyber insurance resiliency
The Federation of European Risk Management Associations (FERMA) has called on the Council of the European Union to prioritize strengthening cyber insurance resiliency
Insurtech Boxx announced 3 key appointments to drive growth in the U.S.
Toronto-based cyber insurtech Boxx Insurance has announced three key appointments to drive its growth in the United States
Howden’s research highlights escalating cyberattacks on UK businesses
A new report from Howden reveals that cyberattacks are becoming a growing threat for UK businesses, with 52% of companies reporting at least one incident
Insurtech CyberCube partnered with Penguin Tech
CyberCube, a provider of cyber risk analytics, has partnered with Penguin Tech, an integration and consulting provider, to offer improved solutions
Insurtech CyberCube has expanded its partnership with HUB International
Insurtech CyberCube has expanded its partnership with HUB International, a leading insurance broker and financial services firm
MGA Coterie Insurance announced its entry into the cyber insurance market
Coterie Insurance, a managing general agent (MGA) focused on simplifying small business insurance, announced its entry into the cyber insurance segment
Top risks for UK businesses in 2024: Economic, Cyber, Workforce Challenges
Marsh McLennan highlights the primary concerns for UK businesses over the next year. The TOP-3 issues identified are economic and financial challenges (43%), cyber threats (39%), and people-related risks (38%)
Cyber threats as the top concern for businesses – Travelers Risk Index
Cyber threats as the top concern for businesses. This marks the fourth time in six years that cyber risks have taken the lead. according to 2024 Travelers Risk Index
Cysurance partnered with 360 SOC, a cyber provider of response services
Cysurance, a firm focused on risk mitigation and certifying security solutions, has partnered with 360 SOC, a provider of managed detection and response services
Cyber startup BlackCloak raised $17 mn in Series B led by Baird Capital
BlackCloak, a cybersecurity insurtech specializing in protecting executives, high-net-worth individuals, and family offices, has announced a $17 mn Series B funding
Coalition Re introduces Non-Proportional Cyber Reinsurance
Coalition has set up its reinsurance intermediary, Coalition Re, to offer capacity for non-proportional cyber reinsurance treaties along with a white-labelled cyber insurance
Court splits decision in AIG & RealPage recovery dispute over phishing attack
A Texas court reached a split decision in a dispute between an AIG unit and RealPage over the allocation of recovered funds from a phishing attack
Insured losses from CrowdStrike incident exceed $1 bn – Guy Carpenter
Insured losses from the CrowdStrike incident could exceed $1 bn in the cyber insurance market, though the total may be reduced to half since it wasn’t a cyberattack
Number of successful cyber attacks against UK companies increased by 586%
Successful cyber attacks against UK utility companies surged to 48 in 2023, a 586% increase from seven cases in 2022
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 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
Cybersecurity (79.2%) and insurance fraud (77.6%) are the leading concerns among financial services and insurance professionals
Global cyber insurance premium is set to reach $16.4 bn in 2026 as rates fall, AI risks grow and SMEs remain the largest growth opportunity
Cyber insurers are reviewing policy wording as autonomous AI agents create new questions over cyberattack definitions, liability and coverage triggers
RiskScan 2026 reveals how cyber, climate, AI, inflation and business interruption are converging to reshape insurance priorities and risk management