Cyber

Three companies were compromised and Microsoft found malware on one of its systems in an attack blamed on the Russia-backed group.

Camme is the latest in a wave of hires by the San Francisco-based InsurTech.

The company is reducing the limits it offers to $5mn, non-renewing accounts with more than $100mn in revenues, and only quoting new business for accounts with less than $10mn in revenue.

However, he added that solving cyber risk did not mean solving cyber security.

Bailey, a more than twenty-year veteran who has also worked at AIG and Marsh, joins the company in a newly created role.

AIG, Axis, Chubb, Travelers, and The Hartford are among the underwriters to support the launch.

The wholesale broker’s cyber index shows 70% of clients were hit with double-digit rate hikes in April.

Applications and renewals can take months as carriers work to identify client vulnerabilities.

The cybersecurity specialist has 13 years' experience in the industry and joins from Crum & Forster.

The cyber loss curve is “a long way off the top”, according to Jason Crabtree.

With plants that process one-fifth of US meat supply knocked out, JBS hands cash to cybercriminals.

In its annual US cyber market study, the broker said that premiums rose by 21% and claims severity increased by 50%.