The US cyber insurance sector is now in a soft market period after premium rate changes dropped below zero in 2024, according to Tokio Marine HCC’s 2024 Cyber Market Report.

Upward pressure on primary pricing in US casualty lines is expected to accelerate at the upcoming 1 January renewals, with a general consensus that the industry is not yet in the "later innings" of prior-year development, according to JMP Securities.

Arch Insurance has continued the build-out of its European cyber offering with the appointment of Ezechiel Symenouh as a senior cyber underwriter, effective immediately.

The cyber insurance market will see price decreases in the single digits, there will be increased attention on supply chain risks and physical threats from attackers “will likely only get more aggressive”, insurtech Coalition has forecast in its 2025 predictions.

Threat actors will successfully breach a major “business critical” vendor in 2025, according to executives at insurtech Resilience, who also project that cyber criminals will succeed in executing a “deep fake” attack on a major firm in the year ahead.

Sal Pollaro has his sights set on the future of Markel’s professional liability unit, and said advancements in cyber technology will set the stage as the next frontier for the insurance business.

Risk transfer tools like cat bonds can help address the cyber protection gap but initial transactions have revealed some important underlying challenges, the Geneva Association has said in a recent report.

Beazley has announced the promotion of Alessandro Lezzi as group head of cyber risks.

Cyber risks will intensify next year, according to Moody’s Ratings, which expects carriers’ loss ratios for this line to worsen as a result.

Texas-based information security assurance provider HITRUST has announced the launch of a cyber insurance consortium in collaboration with Lloyd's of London.

MSIG Asia has named cyber underwriter Alexander Liu as vice president, strengthening the insurer’s cyber and financial lines offering in Asia.

Specialist insurer CFC has continued the expansion of its dedicated cyber team in Australia with the appointment of Michael Lewis as cyber development manager.

Fewer insureds have confidence in the ability of cyber insurance to cover the cost of an attack as compared to last year, a Cyber Insurance Outlook 2024 survey from Arctic Wolf found.

Envelop Risk has secured a three year extension to its capacity agreement with MS Reinsurance as the cyber-focused firm confirms it has reached $1bn in premium since its 2018 launch.

Wholesale broker ARC Excess & Surplus has hired Shiraz Saeed as senior vice president, product leader - cyber and technology risk.