Coalition, Inc.’s Post

The cyber insurance market is poised for significant growth over the next several years as cyberattacks continue to grow in number and sophistication, with the potential to cause major financial and reputational damage and disrupt business operations, according to a new report from Moody's Ratings.

Oliver Brew discusses the evolution of cyber risk and the cyber insurance and reinsurance markets over the past 2 decades. #cyberinsurance

What do you know about the risks of cyber war? I don't know very much, but as someone who thinks about risk a lot, this story was really interesting. According to a board member, Munich Re said the company is maintaining their position of excluding "cyber war entirely from both its primary insurance and reinsurance portfolios... 'If we need to give up the entire business, we are prepared to do so'" He went on to say, 'it would be such a massive accumulation potential that not only the reinsurance industry, but also the primary insurance industry could simply not survive if something really material happened.'" We often think of insurance companies simply deciding the cost of a risk, charging it and watching what happens. But there are also cases where insurers see an "uninsurable risk" where they simply won't do it. You're seeing that pop up in places like property insurance of coastal Florida. Cyber insurance needs are likely to grow. It will be interesting to see how the industry evolves. #insurance #reinsurance #cyber #cyberrisk #cyberinsurance #cyberwar #catastrophe https://lnkd.in/eTUjyEdB

Great to see the second iteration of the Insurance Risk Monitor from OAC Limited - Member of the Broadstone Group published today. Bharat Raj provides this month's update on the cyber insurance market covering its growth outlook and key risks. Find out more about the recent growth of the cyber insurance market, the rating environment and the impact of geopolitical tensions in this piece from Reinsurance News https://lnkd.in/eyBK2a74

Useful learning on how reinsurance might impact your cyber insurance quotation.

Learn about cyber reinsurance directly from our experts; comming trends!!

Has your broker ever told you that the change in your renewal terms are due to market conditions? Well, Nikhil Desai, Associate Director in our Cyber Retail team sat down with Toby Lampier, Director in our Cyber Reinsurance team to discuss how reinsurance might impact your cyber insurance quotation. Find out more here: https://lnkd.in/eqWQXCYp #CyberInsurance #Reinsurane #RiskManagement 

Broadstone’s latest Insurance Risk Monitor suggests that the CrowdStrike event challenges the cyber insurance market’s conventional focus on malicious actors, highlighting an opportunity to offer more comprehensive coverage for non-malicious losses.

Great insight from Nikhil Desai and Toby Lampier on how forces outside of your control may impact your cyber insurance cover. #cyberinsurance

The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure. Data compiled from cyber insurance supplemental filings in statutory financial statements indicates that for standalone cyber coverage the direct incurred loss and defense and cost containment (DCC) expenses ratio held relatively steady at 44% in 2023 versus 43% in 2022. Learn more: https://ow.ly/s5Et50Riza4 #FitchRatings #Insurance #CyberInsurance