While companies are aware of cyber insurance, uptake it being held back by a number of deployment challenges, according to Radiant Insights.
The Connecticut Foundations Solutions Indemnity Company (CFSIC) has reassured existing claimants they will not be pushed down the pecking order after an influx of new claimants came into the captive in January.
Strategic Risk Solutions has released a new strategic planning and execution service called Captive 360°.
Cowbell Cyber, a startup that uses artificial intelligence to deliver cyber insurance to small to mid-sized businesses, has launched Cowbell Prime 100, allowing insurance agents to issue bespoke cyber policies with limits of up to $5 million.
The intrusion prevention system market is forecast to surpass $8.5 billion by 2025, according to IndustryARC, a research and consulting firm.
The first captive to manage risk associated with crypto currencies has been formed on Bermuda. The vehicle has been formed by a large financial institution to take on the risk of digital assets that it stores on behalf of third parties being stolen.
Captive premium growth for cyber risk has accelerated by 263 percent in the past year, according to Aon.
RYSKEX, an AI-driven hedging platform for emerging risk that bring together risk management, captive insurance units and institutional investors, is among the second cohort of 12 teams to join Lloyd’s Lab, the experimental development hub to explore ways to boost efficiencies at Lloyd’s of London.
Accenture and Generali Employee Benefits (GEB) have introduced a blockchain solution to improve the reinsurance process for captives in the employee benefits industry.
Ratings agency AM Best ha upgraded the financial strength rating of Sony's Bermuda-based pure captive PMG Assurance from A- (Excellent) to A (Excellent).