Brad Gow named head of cyber products at Endurance Specialty

Brad Gow named head of cyber products at Endurance Specialty

Brad Gow named head of cyber products at Endurance Specialty

Bermuda-based Endurance Specialty Holdings Ltd has appointed Brad Gow to the new role of global cyber product leader within Endurance Insurance. Mr Gow, who joined Endurance in March 2011, will be responsible for providing overall underwriting direction for cyber offerings across the company’s global insurance business. In this new role, he will report to Jack Kuhn, CEO of global insurance…

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

THB industrial cyber risk package includes alternative firewall technology

A cyber security protection package for industrial businesses has been launched by a partnership comprising broker THB in conjunction with London market insurer CNA Hardy and cybersecurity specialist Waterfall Security Solutions. Traditional cybersecurity solutions, such as firewalls and intrusion detection solutions, are failing to provide sufficient protection for industrial control systems, according to the trio. Waterfall’s proprietary Unidirectional Security Gateway…

RIMS advises businesses on cyber insurance needs

RIMS advises businesses on cyber insurance needs

RIMS advises businesses on cyber insurance needs

A company’s assessment of its cyber insurance needs should begin with an assessment of the sources of risk and perils and whether they are covered by traditional policies or are excluded, according to a report from the US Risk and Insurance Management Society (RIMS). The report, Cyber Insurance: Considerations for Businesses, states that organisations considering standalone cyber coverage should determine…

The words on everyone’s lips

The words on everyone’s lips

The words on everyone’s lips

Cyber risk/cyber security is the most-used word or phrase encountered by insurers in 2016 according to a report from AM Best. About one-third of insurers surveyed cited cyber as the most common buzzword, while ‘low/negative interest rates’ placed second (23.1% of responses) and ‘increasing regulation’ finished third with 10.6% of respondents citing the phrase. Those surveyed were also asked about…

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

XL Catlin has poached James Tuplin from rival QBE to be its head of cyber and technology, media and telecoms, international. At QBE he was cyber and TMT portfolio manager, with responsibility for growing the insurer’s cyber portfolio in Europe. Based in London, Mr Tuplin will be responsible for underwriting cyber insurance, as well as professional indemnity insurance for the…

BHSI boosts professional liability offering and hires new head

BHSI boosts professional liability offering and hires new head

BHSI boosts professional liability offering and hires new head

Berkshire Hathaway Specialty Insurance (BHSI) has launched professional liability coverage for large, complex technology-related risks and has appointed Geoffrey Kendrick as head of Professional Lines in Canada. BHSI’s first Professional Liability and Network Security & Privacy Policy is designed to address the needs of a range of enterprises, from systems integrators, to telecommunications providers, to IT staffing firms. The policy…

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re eyes growth – and threats – in cyber space

Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments made in the global reinsurer’s earnings call with analysts. Board member Torsten Jeworrek told analysts that the €4.8bn premium share from its risk solutions segment was down from €5bn. The…

Cyber experts report wider range of attacks with IoT a huge concern

Cyber experts report wider range of attacks with IoT a huge concern

Cyber experts report wider range of attacks with IoT a huge concern

As cyber criminals broaden their capabilities there has been a rise in attacks against industrial control systems and connected devices, with growing use of ransomware and distributed denial-of-service (DDoS), according to speakers at a BrightTALK cyber summit. Ransomware is proving to be one of the most popular threats currently, according to Peter Wood, CEO of ethical hacking and penetration testing…

Pool Re to extend property cover to cyber terror attacks

Pool Re to extend property cover to cyber terror attacks

Pool Re to extend property cover to cyber terror attacks

Pool Re, the UK’s government-backed terrorism reinsurance fund, is interested in extending cover to include physical damage from cyber terrorism, a spokesman has confirmed to Commercial Risk Online. Pool Re chief executive Julian Enoizi told Reuters recently that he has held discussions with the government and industry, and that Pool Re hopes to add cyber to its coverage in the…

JLT launches social engineering cybercrime policy

JLT launches social engineering cybercrime policy

JLT launches social engineering cybercrime policy

JLT Specialty has launched a crime and social engineering (CASE) insurance policy in response to growing concerns about fraud perpetrated through social networks. Social engineering fraud is a growing problem for all sizes of business and often involves fraudsters persuading employees to make significant payments, working around internal controls and processes. Criminals trick companies into making a significant payment by…

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