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The founding members include Munich Re, Gallagher Re, and BitSight. -
Rate fluctuations are expected in the market, due to the emergence of new risk-differentiation models and cyber security standards.
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In late May, this publication revealed the appointment along with Mauro Signorelli’s, who served as head of international cyber at Aspen Insurance.
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Some carriers have already hit GWP targets for this year and are refraining from writing any new cat risks unless it fits a very favorable profile, the firm said.
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In contrast, cyber pricing continued slowing down as Q2 rates increased 3.6%, compared with 8.4% in Q1 and 15% in Q4 as the space was hit by increased competition.
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With the acquisition, Zurich will expand its cyber risk mitigation services provided by Zurich Resilience Solutions unit.
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The policies are issued by At-Bay Specialty Insurance Company, the Delaware-based E&S insurer the InsurTech acquired from XL America in January.
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Inside P&C’s news team runs you through the key highlights of the week.
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Sources expect to have a clearer picture of the impact of higher ransomware and lower rates by Q4 or early next year as pricing decreases 5%-15%.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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As part of the financing round, which closed last week, Tom Kang was elevated to Converge’s CEO from his prior role as the MGA’s chief insurance officer.
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The US and Europe have shown concerns over Lloyd’s of London war exclusion wording, the report shows.
