Casualty Reinsurance

Axis Re’s Haugh: Shift towards monoline cyber cover to continue as market expands

Cyber has increasingly evolved into a monoline product over the past year with cover stripped out of multi-peril liability policies, according to Axis Re CEO Ann Haugh.

AIG’s $300mn cyber XoL renews flat with lower attachment point

AIG’s $300mn aggregate excess-of-loss (XoL) cyber cover renewed broadly flat with a lower attachment point in what is likely to be seen as an endorsement of the carrier’s book of business, The Insurer can reveal.

PCS: NotPetya insured losses now $3bn+

The industry’s ultimate insured losses from the June 2017 NotPetya virus will now exceed $3bn with the majority emanating from silent - or non-affirmative - coverage, according to the independent loss adjudicator, Property Claims Services (PCS).

UPDATE: £2.1bn Pool Re XoL restructures with new third layer and cyber trigger

Analysis of the industry’s largest XoL retro terrorism programme, together with diagram of stack and Pool Re chain of security…