News

Former Hartford head of cyber Ingerslev re-emerges at Tokio Marine HCC

The former global head of cyber risk at The Hartford Jacob Ingerslev has re-emerged at the head cyber and tech underwriting at Tokio Marine HCC, The Insurer has learned.

Lockton hires WTW’s Ford as Southeast cyber practice leader

Lockton has appointed Sou Ford as Southeast cyber practice leader, with the new hire joining from WTW.

Aon: Severe cyber/E&O price increases expected to stabilise in H2

Aon has observed a slight reduction in the frequency of cyber claims, according to its latest Errors & Omissions and Cyber Market Review, while the broker anticipates the first half of 2022 will continue to see severe rate increases with the potential for stabilisation in the second half of the year.

Munich Re to exclude war from direct cyber covers: reports

Reinsurance giant Munich Re is set to roll out new wordings in primary cyber insurance policies to exclude war as the threat level rises following Russia’s invasion of Ukraine.

WTW: Hard market “gradually loosens grip” but cyber rates to spike 100-200%

North America commercial rates are expected to decelerate to single-digit increases or even flat renewals in many lines for the first time in several annual cycles, WTW has stated in the Spring update of its Insurance Marketplace Realities report, with cyber a notable exception.

Coalition lands multi-year cyber capacity deal with Ascot US

Coalition has struck a multi-year non-admitted capacity deal with Ascot’s US platform, a move aimed at fuelling the next phase of the insurtech’s growth.

CAC Specialty hires former Aon cyber exec Snyder Frenier

CAC Specialty has named Stephanie Snyder Frenier as senior vice president, business development leader of professional and cyber solutions, with the former Aon executive joining after less than a year at BitSight.

Beazley adds Taube to Munich team in latest expansive cyber move

Beazley has continued to expand its cyber team with the appointment of Christian Taube as head of cyber services – international.

Lockton names AIG’s Faylo as US cyber and technology leader

Lockton has appointed Michelle Faylo as its US cyber and technology leader, with the executive joining the broker after almost 16 years with AIG.

Resilience launches modular process for cyber policies

Resilience has introduced a new process for modular policy production, this publication can reveal, with the MGA stating it is the first to adopt modularity for cyber insurance.

Aspen parts ways with global cyber head Ladeau

Aspen Insurance’s global head of cyber Josh Ladeau has left the company in the latest talent shake-up in the cyber world, The Insurer can reveal.

Cowbell hires Chan as chief technology officer

Cowbell Cyber has continued its expansion with the announcement that former vice president of engineering at Zimperium Joshua Chan has joined as chief technology officer.

The Hartford’s head of global cyber risk Ingerslev resigns

Jacob Ingerslev, head of global cyber risk at The Hartford, has resigned from the post to pursue a new opportunity, The Insurer can reveal.

Insurance leaders unveil new public-private systemic risk initiative Resilience UK

Aon’s Dominic Christian and Pool Re’s Julian Enoizi have unveiled a proposed new UK initiative designed to facilitate industry and government collaboration to promote resilience to systemic risks such as cyber and climate change.

Reinsurer calls for end to resistance on UK cyber public-private partnership

Plans for a UK public-private partnership for systemic risk around cyber are facing serious barriers, according to a senior cyber reinsurance executive.

Bermuda Risk Summit panel: Cyber retro must grow from “shot glass” of capacity

The cyber product needs to be separated out to attract more capacity, with systemic risks potentially being taken on separately by the retro market, according to a panel at the Bermuda Risk Summit.

Envelop Risk hires Swiss Re UK P&C head Simon Welton

Cyber reinsurance and analytics firm Envelop Risk has made a signature hire in the form of Swiss Re’s market head of P&C for the UK and Ireland, Simon Welton, The Insurer can reveal.

Panel: Cyber insurers look to modify war exclusions in response to Russia-Ukraine

Cyber insurers are looking to modify war exclusions in response to the uncertainty related to the Russia-Ukraine war, according to executives speaking at the Bermuda Risk Summit, who noted that the exclusions are “not built for purpose” and may not be ”exceedingly effective”.

Falvey launches new cyber cargo offering underwritten by Chaucer

Falvey Cargo Underwriting (FCU) has launched a new cyber product offering limits of up to $5mn with coverage underwritten on the paper of Chaucer.

Mosaic moves cyber underwriter Cole from London to Bermuda

Mosaic has transferred London-based cyber underwriter George Cole to Bermuda following a temporary secondment to the island.