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Ariel Re hires its first cyber head as the Bermudian seeks a deeper role in the evolving sector. -
New investors Cyber Mentor Fund, Zurich Insurance Group and SixThirty Ventures participated in the fundraise.
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A NetDiligence study has found that ransomware has been the top cause of cyber incidents over the last five years.
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The deal will allow Corvus to write up to $100mn in new business over the next 12 months, with SiriusPoint initially providing all the program’s reinsurance capacity.
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In its 2021 captives report, Aon found that both cyber captive premiums and environmental captive premiums have skyrocketed in tandem with emerging ESG and cybersecurity priorities.
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In a post Covid-19 world, cyber-attacks have become increasingly frequent and more severe, with automated bot attacks surging specifically.
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Nazir boasts 20 years of industry experience, and has served at Chubb for nearly four years.
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The San Francisco-based InsurTech is targeting international expansion, with plans to write business in the UK and Continental Europe beginning in 2022.
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The broker warned that the risk of a systemic cyber loss “is beginning to feel more like an inevitability.”
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After an initial rush to cover large-scale attacks following 9/11, the terror insurance market has been slow to catch up with changing threats.
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The cyber MGA has rolled out a platform to provide capacity providers with more real-time portfolio detail, as it aims to secure underwriting backing in a tougher market.
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Coletti takes the role previously held by Anthony Cordonnier, who recently joined reinsurance broker Guy Carpenter.
