Product Hub: Cyber
Welcome to Insurance Age’s Cyber Product Hub. This page hosts all of our cyber product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product overview: Cyber
The dotcom boom of the late 1990s shifted everything from banking to shopping online. But, with criminals recognising that there’s money to be made from our online activities, it also saw the birth of the first cyber insurance policies.
Find out moreBroker satisfaction survey
In 2021 Insurance Age undertook its largest ever survey of UK brokers in order to assess the quality of insurer service across the market.
The Broker Satisfaction Survey covers 11 business lines in total and accessed more than 7,000 data points, making it one of the biggest surveys in the broker community.
The results are spread across five articles which rank insurers and highlight the best providers in the business.
The five pieces show the top ten providers in the major commercial space, across small commercial and niche players, and we also take a deep dive into the high net worth sector and commercial property markets.
The results are exclusively available to Insurance Age subscribers.
Rankings: Cyber
Bronze: NMU
Silver: Travelers
Gold: CFC Underwriting
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Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Spring launches SME cyber cover
Spring Insure has launched a commercial cyber offering tailored for small and medium sized enterprises.
Verlingue reports £121,807 costs after cyber attack
Verlingue UK’s Companies House filing for last year has shown that an attempted cyber attack in November 2021 cost the business £121,807.
GRP-owned Newstead buys Crendon Insurance Brokers
Birmingham-headquartered Newstead Insurance has purchased local commercial competitor Crendon Insurance Brokers.
Beazley delivers improved COR but profits down on investment returns
Beazley has reported an improved combined operating ratio of 87% for the first half of 2022, from 94% delivered in the same period last year.
HSB creates new commercial division
HSB UK and Ireland, part of Munch Re, has bought together its business development, customer trading and claims areas under a newly created commercial division.
Coalition targets being core market player with broker only UK cyber insurance launch
Coalition is hopeful of becoming “one of the standard set of markets that domestic brokers approach for coverage” within 12 months after teaming up with Allianz to launch a cyber insurance product to SMEs and mid-market businesses in the UK, CEO Joshua…
Allianz partners with Coalition on UK cyber insurance
US based cyber insurance provider Coalition is entering the UK market after partnering with Allianz.
Lloyd & Whyte buys Naturesave Policies
Totnes-based Naturesave Policies, a broker with a focus on green and ethical insurance, has been acquired by Lloyd & Whyte for an undisclosed sum.
Burns and Wilcox eyes £60m-£65m in GWP
The MGA and underwriting business has experienced “significant growth” since it was created in 2019 and is open to M&A as a tool for growth according to CEO, Stuart Kilpatrick.
Cyber insurance costs doubled in a year - Howden
Howden’s annual report on cyber has revealed the average cost of cyber insurance has doubled since last year due to an extreme supply-demand imbalance.
Cyber pricing hardens over 30%, says Aon
Market conditions for cyber insurance in the UK remain challenging with prices hardening by over 30% for the first quarter, according to an update by Aon.
Ardonagh buys Alice Castle
Ardonagh Advisory has agreed to buy professional indemnity and cyber insurance specialists Alice Castle, Insurance Age can reveal.
Aviva halfway to regional underwriter recruitment target
Aviva has added a net 20 new underwriters to its underwriting team in the regions, chief distribution officer Gareth Hemming told Insurance Age.
Biba’s White attacks FSCS funding model
Biba CEO Steve White has insisted that brokers “must not be left paying over the odds for the failures of others”.
Opinion: The importance of the right chemistry for schemes and DAs
Axa UK’s Gary Head explains why the formula must be right to achieve long-term success
Cyber hits top spot for schemes commission earnings
SchemeServe research shows that cyber has outpaced other insurance schemes with an 87% increase in commission earnings over the past six months.
Blog: Helping clients adopt MFA as a critical layer of cybersecurity
Davis Kessler, of Travelers Europe, explains why multi factor identification is a key weapon for businesses and brokers as they seek to prevent cyber attacks
Property pricing up 9% in Q1
Insurance pricing in the UK increased by 20% in the first quarter of the year but this was down on the 22% rise in Q4 2021, according to the latest research by Marsh.
Aviva calls on brokers to play key role in protecting clients from cyber risk
Aviva has urged brokers to help educate customers on how to improve resilience and ensure they have taken reasonable steps to protect themselves following alerts from government agencies that the commercial world faces an increasing risk of an online…
Beazley revamps underwriting team structure
Cyber risks to become a standalone division as part of the changes.
CFC revamps tech and media policies
The provider has streamlined the proposition to remove the need for multiple policies.
UK brings in sanctions blocking Russian access to aviation insurance
AM Best put ratings of suite of Russian insurers and reinsurers on negative watch at the start of the month.
Aon confirms cyber incident
Firm states its ability to serve clients has not been impacted by the event.
Analysis: Balancing risk and opportunity in the metaverse
Insurance Age spoke to industry experts to find out how the metaverse is changing the risk landscape and what opportunities it offers brokers and insurers alike.
Meet the MGA: Arc Legal
Peter Harvey, deputy chief executive of Arc Legal, tell Insurance Age about the bespoke products the MGA offers brokers and how 2022 might shape up for the market
Biba calls for IPT relief in 2022
The trade association has asked government to reduce IPT to 10% in areas such as property, telematics, and cyber as it also pleads for a simplification of insurance tax in the travel sector.
