Cyber

Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.

Some programs had to be restructured as rates hardened and capacity flowed away from cat risk in some cases.

The change in plan comes as Lloyd’s restricts cyber growth.

CyberCube forecast further capital market capacity will hit the cyber insurance market next year.

The Lloyd’s chief of markets also highlighted inflationary risks as a trend of which to be aware for syndicates.

Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.

Maya Bundt referred to cyber security threats as the “dark side” of proliferating digitalisation.

AM Best sees accumulating cyber risk in the US property market downgrading 18 US property carriers, considering Best’s Capital Adequacy Ratio.

As providers manage their targets by premium dollars, and rising rates have boosted quota share income, this is leading to reinsurers hitting capacity earlier than expected.

The platform has backing from ILS firm HSCM, although cyber paper was provided by HDI.

The deal follows an agreement the reinsurance broker reached in December to partner with auction platform Tremor Technologies.

The cyber insurance sector is set to grow to $20bn by 2025, the broker said.