The London (re)insurance market must do better at explaining to government the boundaries of cyber cover and the private sector’s limitations in providing resilience to the UK economy in the event of a large-scale cyber attack, according to Swiss Re’s Aidan Kerr.

Redpoint Cyber’s president and CEO Russell Safirstein has stepped down from his post running the company after six years in charge, after the cybersecurity firm was acquired by investment firm Mitsui & Co.

SMEs in the UK are increasingly at risk of cyberattacks but remain both largely unaware of the threat they face and unprotected by insurance, according to the Association of British Insurers (ABI).

The threat to UK businesses and critical infrastructure from cyber attacks by nation states and bad actors remains “widely underestimated” by the public, with policymakers increasingly looking to the (re)insurance market to promote and build cyber resilience.

MSIG USA has appointed former Guy Carpenter executive Siobhan O'Brien as head of cyber insurance.

A federal court has granted preliminary approval for a $45mn settlement in a class-action lawsuit against Las Vegas-based MGM Resorts International over two major data breaches in 2019 and 2023 that exposed the personal information of millions of customers.

Tokio Marine HCC has highlighted a concerning increase in supply chain attacks in a new report on the 10 largest cyber incidents of 2024, with the carrier emphasising the need for robust collaboration and proactive security measures as businesses continue to depend on shared infrastructure.

January 25 (Reuters) - The cyberattack at UnitedHealth Group's tech unit last year affected the personal information of 190 million people, the health conglomerate said on Friday, making it the largest healthcare data breach in the United States.

Cyber-focused Envelop Risk has promoted Graeme Bell to group COO and Simon Welton to executive vice president for underwriting performance and strategic partnerships.

The abundant capacity seen at the 1.1 cyber reinsurance renewals is expected to remain adequate to meet demand this year, but reinsurance brokers have cautioned that more capacity and further innovation will be required for the market to meet its long-term growth potential.