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Insurance Journal

 •  November 21

The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New York, Fitch Ratings analysts said they expect cyber insurance business to be ratings neutral for most highly-rated insurers with...

Insurance Journal

 •  November 16

A California insurtech startup with a new cyber product has launched today to offer brokers and their clients what it calls “redesigned insurance, with cyber security expertise at its core.” Mountain View, Calif.-based At-Bay launched out of stealth mode along with the announcement that it has $6 million from a seed funding round led by LightSpeed...

Insurance Journal

 •  November 8

A bank in Nepal is the latest victim in a string of cyber heists targeting the global SWIFT bank messaging system, though most of the stolen funds have been recovered, two officials involved in the investigation confirmed on Tuesday. Hackers last month made about $4.4 million in fraudulent transfers from Kathmandu-based NIC Asia Bank to countries...

Insurance Journal

 •  November 7

More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. “I don’t think the solution to the cybersecurity problem rests in regulation,” Arthur Lindo, senior associate director of the Fed’s division of supervision and regulation, said Monday at a banking conference in New York....

Insurance Journal

 •  October 27

XL Catlin’s insurance operations announced the appointment of Max Broodryk as product leader of Cyber Risk, International Financial Lines for Asia Pacific, based in Sydney. In this role, Broodryk will be responsible for underwriting management and development of the Cyber & Data Protection line of business within Asia Pacific. Broodryk reports to...

Insurance Journal

 •  October 27

American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim of a security breach. The change is part of the insurance giant’s effort to shift from issuing policies that...

Insurance Journal

 •  October 25

Brit Global Specialty has appointed Courtney Mocio as vice president, Cyber & Technology. In this role, Mocio will be responsible for helping to grow Brit’s cyber and technology portfolio in the U.S. Mocio brings a track record of underwriting network security and data privacy products. She joins BGSU from Nationwide Insurance Co. (Freedom...

Insurance Journal

 •  October 24

The Canadian government is “really worried” about cyber attacks that have targeted critical infrastructure and has helped companies improve their defenses without disclosing hacks to the public, a senior intelligence official said on Monday. The comment by Scott Jones, an assistant deputy minister at Canada’s Communications Security Establishment...

Insurance Journal

 •  October 23

Marsh announced the appointment of Dr. Jamie Saunders as a strategic adviser on cyber risk management within its UK specialist cyber security and risk team, part of the firm’s Client Advisory Services division. Saunders will be based in London. One of the UK’s foremost cyber security experts, Saunders was previously director of the National Cyber...

Insurance Journal

 •  October 20

Reinsurance intermediary Aon Benfield has appointed Catherine Mulligan as managing director and U.S. Cyber Practice Group leader. Mulligan brings underwriting, policy form and product knowledge to Aon’s cyber capabilities for insurers and will be responsible for driving the team’s growth into 2018 and beyond. A word from our sponsor: California...