Increased requirements around the management of information and communication technology (ICT) risks under the Digital Operational Resilience Act, which took effect in the EU today, may lead to an increase in cyber insurance take-up for in-scope organisations.

Independent insurance underwriting and wholesale brokerage group XS Brokers (XSB) has created a new product division for cyber liability to be led by senior vice president Scott Burns.

Cyber insurtech Boxx Insurance has made three hires to support its growth in the US, with Erik Tifft named head of products and Jim Miller and Gil Cujcuj appointed distribution leaders for the East and West, respectively.

Softening cyber conditions will continue this year despite a challenging threat landscape, but the market will “continue its expansion in 2025 and in the years that follow”, according to a new Gallagher report.

The cyber insurance market in Asia is projected to triple in size by the end of 2025, driven by increased demand as a result of heightened cybercriminal activity and regulatory scrutiny, according to law firm RPC’s latest annual insurance review.

Coalition has rolled out a new regional go-to-market model (GTM) in North America, establishing five new territories, in an operating model shift aimed at centralizing broker engagement as well as driving faster and better service, Cyber Risk Insurer can reveal.

Resilience grew premiums by more than 40 percent to around $180mn and policy count by 57 percent in 2024, which CEO Vishaal “V8” Hariprasad acknowledged came just shy of its targets amid softening conditions, as he doubled down on growth plans for 2025.

Proposals introduced by the UK government would ban all public sector bodies and critical national infrastructure – including the NHS, local councils and schools – from making ransomware payments.

The Court of Appeals for the Sixth Circuit has affirmed a lower court’s ruling that retail giant Home Depot is not entitled to $50mn of coverage on liability policies issued by Zurich and Great American for a settlement related to a cyber breach in 2014.

The Federation of European Risk Management Associations (Ferma) has highlighted the energy transition, cyber resilience and economic security as its key policy priorities to contribute to the Polish presidency of the Council of the EU.