Cyber

THG Plc’s pure captive formation in Guernsey last year played a key role in ensuring a smooth cyber insurance renewal and has given the fast-growing group more leverage in the commercial market.

The number of captives writing cyber coverage in their programmes is “emerging as a trend”, according to Fred Eslami, associate director, alternative risk transfer and cyber security leader at ratings agency, AM Best.

The sheer volume of cyber-attacks taking place without corporations knowing lends itself to understanding cyber as a high frequency, low severity risk, thus opening the door for more captive involvement, according to Ryan Dodd, CEO and founder of Intangic.

We share two interviews with MGAs that are particularly interested in providing unique underwriting expertise and capacity to captive owners, in cyber and political violence.

Large corporate cyber programmes must look to the whole market, as well as consider utilisation of captives and mutuals, in order to find the capacity and coverage required, according to the risk, insurance and captive team at Belgian multinational chemical company owner Solvay.

This GCP Short, featuring risk, insurance and CISO experts from Solvay, takes a deep dive into cybersecurity and the role for captives in both risk financing and supporting risk management on the fast evolving and difficult to insure risk.

The number of Marsh managed captives writing cyber increased by 75% between 2020 and 2022, according to a recent Marsh US Cyber Purchasing Trends report.

The Federation of European Risk Management Associations (FERMA) has called upon the insurance industry to adopt a more collaborative approach to cyber insurance which balances the risk appetite of...