Cyber black hole in US property insurance market could trigger over £12bn in losses
A study by CyberCube, AM Best and Aon has found a hidden cyber risk in the US property insurance market could trigger over $12.5bn in losses for the industry.
Cyber insurer Coalition enhances unicorn status with $205m Series E
Cyber insurance and security firm Coalition has raised $205m from a Series E funding round, lifting its valuation to $3.5bn.
Envelop Risk concludes SoftBank-led Series B with $130m
Cyber and speciality (re)insurance firm Envelop Risk has secured $130m from a Series B funding round led by SoftBank Vision Fund 2.
CBIRC demands insurance company self-checks in management crackdown
The China Banking and Insurance Regulatory Commission (CBIRC) has called on online insurance firms to conduct self-assessments to identify violations and make corrections.
FCA slaps Lloyds Bank’s insurance division with £90m fine for misleading customers
The Financial Conduct Authority (FCA) fined the insurance division of Lloyds Bank £90.7m for sending misleading renewal quotes to nine million customers.
The regulator stated...
Cyber insurance market to exceed $20bn value by 2025, report finds
A report by GlobalData has found the cyber insurance industry is predicted to exceed a $20bn gross written premium (GWP) value by 2025.
Certificial closes $5.8m in its Series A round
Certificial, which offers real-time certificate of insurance (COI) issuance and compliance management, has closed its Series A round on $5.8m.
InsurTech Waffle seeks expansion following $5m seed round
New York-based InsurTech Waffle has closed a $5m seed funding round led by Verve Ventures.
AI-driven fraud protection company for InsurTechs Shift Technology earns the horn after $220m round
SaaS provider of AI-driven decision automation and optimisation solutions for the insurance industry Shift Technology closed a $220m fundraising bringing its valuation to over $1bn.
Why SMEs need to worry about the threat of cyberattacks
As the world treads towards an increasingly digitised ecosystem, cyber threats and online fraud is not uncommon and no one is immune to them but SMEs may not be aware of the devastating consequences of a cyberattack, according to KYND.
