Research & Reports

This report provides insights into the outlook of the global threat landscape for Q4 2023, detailing what (re)insurers should know about the evolving threats to come, including how nation-state cyber threat activity is affecting the market.

In this white paper, we will give an overview of the Ransomware-as-a-Service (RaaS) business model, outline our approach to identifying the highest-risk companies to a specific RaaS threat actor group, and share the results of this approach when applied to a proxy portfolio index.

A look at how CyberConnect, CyberCube's API capability, allows insurers to bake the necessary cyber analytics into their existing workflow.

Jon Laux, VP of Analytics at CyberCube, highlights some of the key changes made in Version 5 of CyberCube's software-as-a-service platform Portfolio Manager. 10:41 Do you need anything else? Thanks for putting that up

As part of CyberCube's ongoing efforts to understand the cyber threat landscape and cyber catastrophe events, the latest findings have been published and are the basis for CyberCube's the new version 5 of Portfolio manager. For PMv5, nearly every aspect of the model was reviewed to provide a coherent, justifiable, and data-driven view of risk.

CyberCube has published a new report analysing software and ransomware vulnerabilities in almost 17,000 French companies. It provides insights for brokers and underwriters active in the cyber market or considering entering it. Interview with Brittany Baker, VP of Solutions Consulting and Yvette Essen, Head of Content, Communications and Creative.

Artificial Intelligence is truly transformational to the world at large, and impacts all industry verticals, including insurance. Ashwin Kashyap, Co-Founder of CyberCube and Chief Product Officer, tells Yvette Essen, Head of Content, Communications and Creative, we should expect a regime change in terms of what the cyber threat landscape would look like.

This report details key takeaways from the MOVEit cyber attack that affected hundreds of companies globally. The (re)insurance industry must understand these attacks and how to best navigate future cybersecurity incidents like this.

[FRENCH AVAILABLE] Analyzing almost 17,000 French companies, this report highlights software and ransomware vulnerabilities and provides insights for brokers and underwriters active in the cyber market or considering entering it.

[ENGLISH AVAILABLE] Ce rapport met en évidence les vulnérabilités logicielles et aux ransomwares, et fournit des informations aux courtiers et aux assureurs actifs sur le marché cyber ou envisageant d’y entrer.

This report details a new approach to building a more nuanced and deeper understanding of technology dependencies datasets for the cyber (re)insurance industry.

As cyber (re)insurance matures, it's important that (re)insurers understand how to effectively navigate this risk. This report delves into what leading players in the market should know and how to utilize data and analytics to thrive in this space.

As part of CyberCube's ongoing efforts to understand the cyber threat landscape and cyber catastrophe events, the latest findings have been published and are the basis for CyberCube's the new version 5 of Portfolio manager.

This video provides insight from some of the cyber security industry’s leading experts to augment the competence of your cyber insurance team, and is delivered as part of CyberCube’s Concierge service.

This video details the ESXiArgs attack and what actions players in the (re)insurance industry should take.

This report explores the challenges faced by cyber underwriters in assessing cyber risks, the importance of cyber risk data and analytics in making informed decisions, and how insurers should utilize cyber risk signals in underwriting assessments.

This joint report from CyberCube and Cowbell highlights how cyber insurers can better understand their SME risk.

This report provides insight from some of the cyber security industry’s leading experts to augment the competence of your cyber insurance team, and is delivered as part of CyberCube’s Concierge service.

This report, a collaboration between CyberCube, Lockton Re and Envelop, explores the latest insights regarding cyber ILS and its potential for growth over the coming months.

This report aims to advise the (re)insurance and broking industry on the developments of the ESXiArgs attack to date and what actions they should take to advise their clients.

In this report, CyberCube's multi-disciplinary team of experts come together to share what they think will be the standout trends in 2023 to help you build a forward-looking view of risk.

In an era and market environment where vast amounts of data and analytics are available, it is critical to cut through the noise and focus on signals which provide the strongest predictive power to aid portfolio underwriting and account pricing activities.

As the war in Ukraine develops, a sovereign Russian internet could increase cyber risk, helping cyber threat actors to carry out larger attacks with fewer consequences.

CyberCube helps the insurance industry understand the key risks in today’s threat landscape. This report aims to enable more informed decision-making across broking, underwriting and reinsurance cyber policies.

Cyber portfolio management in a dynamic market can make it difficult for (re)insurers to achieve profitability. Mitigating cyber risk requires having the right framework in place, which can help portfolio managers better understand the cyber exposure of a portfolio.

Every year, a considerable amount of research is authored to raise levels of awareness concerning cyber security attack methods, criminal trade-craft and possible outcomes resulting from malicious activity. In our view, not enough of this research focuses on the threat actors carrying out these attacks.

Evaluating Cyber Risk Signals as Indicators of Future Incidents presents the latest findings in CyberCube’s continuous effort to identify, understand, and improve the data and analytics we present to our clients.

Developing cyber catastrophe scenarios: key components (re)insurers need to build a model outlines how CyberCube approaches the development of cyber catastrophe scenarios to define and quantify realistic scenarios that could occur.

Yvette Essen, Head of Content of Communications, CyberCube, is joined by William Altman, Principal Cybersecurity Consultant, CyberCube, to discuss the highlights of CyberCube's latest report: 'War in Ukraine creates a fundamental shift in the cyber threat landscape'.

To celebrate International Women’s Day 2022 and to join the #BreakTheBias movement, CyberCube invited Barbara Merry, a well-known figure in the insurance industry, to share her views on the history of women in insurance and how this has developed over the years.

Yvette Essen, Head of Content of Communications, CyberCube, is joined by William Altman, Principal Cybersecurity Consultant, CyberCube, to discuss the highlights of CyberCube's latest report: 'War in Ukraine creates a fundamental shift in the cyber threat landscape'.

War in Ukraine creates a fundamental shift in the cyber threat landscape analyzes the cyber events accompanying the Russian invasion of Ukraine and the potential implications for the (re)insurance industry.

Brittany Baker, Director of Technical Sales at CyberCube, discusses CyberCube's ambitions to help unlock ILS capacity to support cyber risk underwriting using its advanced technology and risk models.

Darren Thomson, Head of Cyber Security Strategy at CyberCube, discusses CyberCube's latest Global Threat Briefing which looks at the cyber security threat landscape, its important characteristics and the potential impacts on the cyber insurance market.

This report analyzes the cybersecurity threat landscape, its important characteristics and their potential impacts on cyber insurance. CyberCube provide a nation state level cyber threat activity update and review current criminal cyber threat actor activities, as well as predict what to expect in the first six months of 2022.

A look at the mass exploitation of Log4j, a critical deeply embedded Single Point of Failure (SPoF) putting tens of thousands of firms at risk.

The cyber threat landscape is constantly changing, which is why it's vital for (re)insurers to stay ahead of cyber trends. In our Cyber Predictions 2022 report, we hear about the trends that experts in the industry think (re)insurers need to be paying attention to over the next year.

Darren Thomson, Head of Cyber Security Strategy at CyberCube, speaks to William Altman, Cyber Security Consultant at CyberCube on the recent GoDaddy data breach.

Fitch Ratings recently worked with CyberCube to analyze the U.S. banking sector to understand the potential impact of #cybersecurity risk on the U.S. banking sector. Yvette Essen, Head of Content and Communications at CyberCube, speaks to Christopher Wolfe, Managing Director and Head of North American banks at Fitch Ratings and Souki Chahid, Principal Client Product Advisor at CyberCube to discuss the key findings of the joint report.

What's it like to be working at CyberCube? Discover Tatjana Kirotar's experience as a CyberCuber.

Spotlight on Cyber: A study of aggregation risk in the US property insurance market aims to quantify the cyber exposures accumulating in the US property market and calls for further clarification of cyber cover in commercial property policies, explicit underwriting and adequate pricing of the risks associated with cyber events in property policies.

The goal of this study is to provide insight into the relationships between a selected set of cyber risk signals and their relationship to cyber incidents. We focus on establishing the value of individual risk signals in isolation and not in aggregate. This paper aims to establish which cyber signals are meaningful, as well as quantify the relative value of each risk signal.

Yvette Essen, Head of Content & Communication, is joined by Rebecca Bole, Head of Industry Engagement at CyberCube to discuss the importance of corporate social responsibility and what it means for CyberCube.

Yvette Essen, Head of Content & Communication, is joined by Rebecca Bole, Head of Industry Engagement at CyberCube to discuss the importance of diversity and inclusion and what it means for CyberCube.

Darren Thomson, Head of Cyber Security Strategy for CyberCube, discusses the latest ransomware trends and outlines the implications for the insurance industry.

Jacob Tapper, Senior Actuarial Associate at CyberCube, discusses Portfolio Manager, CyberCube's catastrophic cyber aggregation tool as well as its latest updates and new features.

The report identifies growing similarities between cyber ransomware attacks and the kidnap trade. Among these is the rise of so-called cyber cartels – gangs of cyber criminals organised along the lines of drug cartels. These cartels are changing the ‘rules’ of ransomware to keep ahead of the authorities’ efforts to thwart their activities.

With major attacks such as Microsoft Exchange, Blackbaud and SolarWinds making headlines over the past year, CyberCube analyses how supply chain cyber risk has shifted from an identified risk area to become a key topic of interest in the security and insurance industries.

Nate Brink, Sales Manager at CyberCube, discusses CyberCube's product, Broking Manager, and how it helps insurance brokers to assist their clients to make confident decisions around cyber risk.

Ross Wirth, General Manager - Platform at CyberCube, discusses CyberCube's latest technology services offerings and how these are unlocking faster time to business value.

In a fireside chat format, Pascal Millaire will discuss CyberCube’s position in the Tech industry; his career journey, which has included leadership roles at both Symantec and McKinsey; and how his LGBTQ+ identity has influenced his leadership along the way.

CyberCube analyses the threat for the insurance industry from recent cyber attacks by criminals on the servers running Microsoft’s best-selling email services.

Admiral (ret.) Michael S. Rogers, Former Director of the NSA and Commander of US Cyber Command, participated in the fireside chat: History of Cyber War & Current Threat Landscape, at the NetDiligence Cyber War Webinar Series. Admiral Rogers, who is on the board of directors at CyberCube, was speaking to Darren Thomson, CyberCube’s Head of Cyber Security Strategy.

As cyber becomes an increasing risk, TechAssure's clients face significant cyber exposure. Garrett Droege, Executive Director at TechAssure, explains how CyberCube's Broking Manager helps brokers position their clients better in front of insurance companies to place individual cyber risk.

Yvette Essen, Head of Content & Communication at CyberCube, is joined by Rebecca Bole, Head of Industry Engagement; Brittany Baker, Director of Technical Sales and Judy Chow, Director of Product Management at CyberCube to discuss what it is like to be a woman in the insurance and technology sectors for International Women's Day.

Yvette Essen, Head of Content and Communications, gives an insight into her role at CyberCube and how she has juggled it with two young kids during lockdown. She gives advice for those looking to enter the insurtech space and outlines some of the characteristics needed to succeed in this field.

A new report by Lloyd’s, Guy Carpenter and CyberCube, looks at physical cyber in relation to the industrial control sector. Kirsten Mitchell-Wallace, Lloyd’s Head of Portfolio Risk Management, Siobhan O’Brien, Leader of Guy Carpenter’s Cyber Center of Excellence for International and Global Specialties and John Anderson, Principal Client Product Advisor for CyberCube, outline the key findings of the report.

A Lloyd’s, Guy Carpenter and CyberCube Analytics collaboration provides an original analysis of potential cyber attack pathways to an industrial target. Cyber risk is continually evolving, meaning insurers should understand emerging risks in order to keep pace with their clients' exposures.

The CyberCube CEO joins host Matthew Grant to discuss the expansion of the cyber insurance market since his first podcast appearance in 2019, and why the world’s largest insurance institutions are turning to CyberCube to manage their cyber exposures.

Social engineering - the use of deception techniques to trick individual targets and organizations - has taken on different meanings in the context of cybersecurity. Darren Thomson, Head of Cyber Security Strategy for CyberCube, outlines the implications for the insurance industry.

Darren Thomson, Head of Cyber Security Strategy at CyberCube, depicts the social engineering trend used by cyber criminals, bringing their techniques to new levels in terms of both scale and sophistication.

What are the similarities and differences in ways that we look at pandemic and cyber modeling? Oli Brew, CyberCube’s Head of Client Success, discusses this topic with Nita Madhav, CEO of Metabiota as they outline the findings of a recently published report “Viruses, Contagion and Tail Risk: Modeling Cyber Risk in the Age of Pandemics”.

The impact of the COVID-19 pandemic has dramatically influenced every aspect of how we live, work and think about systemic risk. Cyber risk models aim to understand and articulate the systemic risk potential arising from the increasingly hyper-connected technological world in which we operate both in our economy and wider society. Oliver Brew, Head of Client Success, examines the lessons that can be learnt and applied to cyber risk modeling from understanding how pandemic models have evolved.

Lockton’s clients face a wide variety of cyber threats including ransomware and contingent business interruption. Colin White, analytics director of Lockton Financial Services, explains how CyberCube’s Broking Manager helps with risk quantification and informs clients about the issues that they might face.

The pandemic has altered the dynamics of globalization, politics, and the risk landscape. This keynote, with (ret.) Admiral Michael S. Rogers, CyberCube's CEO Pascal Millaire, considers the key trends that have been accelerated or decelerated and how the societal shift to non-physical and internet-connected technologies has increased cyber risk.

John Huff, the President and Chief Executive Officer of the Association of Bermuda Insurers and Reinsurers, said cyber is a good product line for the Bermuda market because of (re)insurers’ agility and innovative approaches. He describes some of the actions ABIR is taking to ensure cyber remains on the agenda for its members.

Morgan Hervé-Mignucci, Director of Cyber Risk Modeling for CyberCube, outlines some of the characteristics of Account Manager, an underwriting tool for the insurance community. He touches upon web traffic data for the product and common vulnerabilities and exposures (CVEs).

Josh Pyle, actuarial director for CyberCube, explains how we determine which scenarios should be added to our flagship product Portfolio Manager. He also touches upon the product’s data sources within its enterprise intelligence layer and discusses secondary modifiers and intensity factors.

Brokers have an opportunity to be an impartial and thorough trusted advisor for cyber risks. Companies can leverage and rely on them to not only understand their cyber risk and sources of threats and loss, but also quantify financial exposure in the context of making insurance purchasing decisions.

Josh Pyle, Actuarial Director, looks back at when CyberCube unveiled Portfolio Manager, and why it is now launching an updated version. He outlines the key differences between the two versions and if there is likely to be further modifications.

CyberCube discusses the impact of the novel coronavirus ( COVID-19) and working from home practices, and what this means for cybersecurity.

Parallels can be drawn between making a samurai sword and data creation. Judy Chow, Director of Product Management and Lewis Guignard, Senior Manager of Data Science, CyberCube highlight some of the themes in a new report looking at the role of data in risk modeling.

What are the changes to our digital landscape that have been encouraged by the COVID-19 pandemic and subsequent social distancing measures?

The digital transformation of the last several decades has changed our lives in such numerous and powerful ways that it has been termed the Information Revolution, following the Industrial Revolution as the most recent impactful shift in the way humans live and interact with each other.

Cyber insurance is one of the fastest-growing markets in the insurance industry. And with this fast growth comes new and constantly changing risks.

Ransomware is evolving — and fast. The emergence of Ransomware-as-a-Service (RaaS) — where a supply chain of different hacking experts provides toolkits for attacks in return for a cut of the ransom payment — changes the game for all businesses….

Understanding of exposure to cyber risk and the gap that exists between small and large companies in understanding can be augmented by the role that brokers and analytics play in the cyber risk ecosystem

With the wealth of data available to companies and their insurer partners, there should be enough information to tailor specific insurance cover to any organizations’ needs. However, upon deeper analysis, there are several structural factors across the market that contribute to this inefficiency and under-protection of corporations.

The creation of risk scenarios is one of the most important, complex and (for many) interesting aspects of risk management in the insurance sector...

Since WannaCry in 2017, the sophistication of cyber threat actors has dramatically increased and ransomware attacks will continue to proliferate...

The ransomware threat has evolved significantly over the past few years, as attackers grow in confidence and explore different approaches...

CyberCube opened an office in Estonia last year and is planning to grow further in the coming year...

The cyber insurance market can learn lessons from the experiences of the natural catastrophe insurance industry, although the unique characteristics of cyber risks mean that there are as many differences as there are similarities for this risk compared to natural catastrophe modeling...

The importance of software patching for enterprises cannot be underestimated says CyberCube’s Max Sokolov, Head of Engineering, Estonia. Given that the threat actor, and methods of attack deployed are constantly changing...

Recent events in Iran have led to heightened concern for the cybersecurity industry given the country’s history with regards to cyber attacks...

The continued explosion of ransomware, the impact of the geopolitical landscape and the deployment of the Internet of Things (IoT) are key trends which are already emerging in 2020...

On Friday, the 50th annual meeting of the World Economic Forum in Davos concluded, with its aim of improving the state of the world...

A growing dependence on technology through the Internet of Things has far-reaching implications for society...

The recent ransomware attack against Travelex demonstrates how threat actors are being increasingly aggressive towards targeted large organisations...

The global economy is racing to digitize its service and product offerings and this “Fourth Industrial Revolution” has far-reaching implications for society...

Recent developments in the Middle East and rising political tensions with the US are leading military and cyber experts to speculate on the opening up of a new front in cyber warfare...

Insurance-Linked Securities (ILS) investors sense an opportunity in the cyber risk market but are still treading carefully in this fast-evolving landscape.

The challenges in identifying, quantifying and modelling silent cyber risk are diverse and this is why silent cyber is increasingly on the agenda...

The denial of service attack that struck Amazon Web Services (AWS) in October highlighted how complex a technology outage can be...

There are some similarities but also material differences between the systemic risks of unexpected natural disasters and cyber events...

Increasing regulation, supply chain risk and cyber warfare exclusions are some of the topics concerning members of the International Underwriting Agency (IUA)...

Companies need to think carefully about the cyber risks they face and not just the insurance policies they are buying...

Josh Pyle, CyberCube, and Chris Shafer, Guy Carpenter, are discussing the latest co-written report 'Beyond the Clouds'.

In September 2019, CyberCube hosted its first user conference, Foresight. More than 100 delegates and figures from the insurance industry were gathered to discuss lots of different topics from the cyber market development to regulatory issues...

CyberCube's CEO, Pascal Millaire, is coming back on the key topics discussed during Foresight 2019. The Future of Insurance, the role of cyber, the changing regulatory landscape...

There are a variety of challenges in modelling cyber risk as well as using those models. Discover Matt Weber, Board Member at CyberCube and former CUO, Swiss Re, key recommendations for using cyber models...

We're interested to place CyberCube at the center of the Insurance Industry to highlight the opportunities offered by our cutting-edge solutions...

Modelling for cyber risk is particularly problematic given the lack of historic data for this line of business. Cyber risk analytics is extremely important to address issues due to cyber exposure for insurers...

Parallels can be drawn between Defence, US and the Cyber Industry in terms of the Insurance market and the way it is evolving...

Security has become more and more important to businesses and as we move to a more hyperconnected future, the implications of security are becoming increasingly important...

Jon Laux, Head of Cyber Analytics for Aon's Reinsurance Solutions and speaker at Foresight 2019 ends the conference on an original and unique note...

Cyber resilience for major corporations isn't as advanced as it should. What are the main differences between the public sector and the private sector's cyber defence strategies?

A client's perspective on CyberCube's first user conference, Foresight 2019. Stephan Brunner, Cyber Actuary at Munich Re is giving his impressions on the event.

For the past 20 years, the capital markets have offered crucial capacity for certain catastrophe-prone perils and regions where traditional insurance and reinsurance capacity has been hard to secure at acceptable terms and conditions...

Against a backdrop of increasing interconnectivity, the need to accurately price cyber risks, understand gross and net exposures, and gain deeper insight to steer underwriting towards better exposure controls and profitability is paramount...

Cyber insurance is one of the most important new insurance lines to emerge in decades. According to Lloyd’s, cybercrime already costs organizations an estimated $400 billion every year, and this number is growing every year...

Internet-connected technologies will fundamentally reshape risk in the 21st Century and in doing so they will fundamentally reshape the risk transfer industry...

The inexorable spread of the digital economy is fundamentally changing the nature of risk, presenting unique opportunities – and challenges – to the (re)insurance industry...

Expected to jump from ~$3B to ~$20B in gross written premiums by 2025, cyber insurance is one of the fastest-growing insurance industry segments over the past several decades. Insurers and reinsurers alike are increasingly recognizing this stratospheric growth as a huge commercial opportunity...

Growth in the cyber insurance market has recently occurred at warp speed, with more than 60 companies writing in the United States alone and market premiums amounting to approximately $2.5 billion annually...

Our digital future will be determined by permutations of technological, political, business, cultural, military and societal developments that will reshape the economy, society and therefore risk management...

Cyber Security risk management is undergoing one of the most important shifts in recent memory; however, this shift is not being driven by the information security industry...

The impact of a cyber attack to an organization’s brand, reputation, and business operations can be catastrophic. Organizations need to plan proactively but prepare for the reactive, which includes insurance for goods, intellectual property (IP), and commerce—the assets sailing across the digital landscape. Welcome cyber insurance.

In 2016 so far, at least 12 documented “ransomware” attacks have been targeted at U.S. healthcare organizations. This specific type of malware is used to encrypt data with a decryption key accessible only to the hacker, blocking system access until a ransom is paid...

According to the World Economic Forum’s 2018 Executive Opinion Survey of more than 12,500 executives, large cyber-attacks are ranked as the #1 risk for doing business virtually across all advanced economies. As companies develop their approach to this dynamic and challenging threat in 2019, there are some emerging trends that they should consider...

Cyber risk is now an embedded feature of the global risk landscape, and preventative risk management and post-event remediation are gaining importance as shareholders, customers, supply chain partners, and regulators are increasingly focused on how companies are managing for cyber risks...

How can brokers assist their clients in understanding the effectiveness of their cybersecurity defenses and help them recognize exposure to cyber risk before it becomes a claim or realized loss?

Guy Carpenter and CyberCube Analytics published a ground-breaking study exploring the size and shape of cyber catastrophes and the resulting financial impact on the US cyber insurance industry...

Insurers of cyber risk are increasingly accepting the possibility of experiencing a major cyber catastrophe in the near future. But what will it look like and how do you manage exposures for an event that has no precedent?

Effectively managing and modeling cyber risk can make all the difference for insurers, reinsurers, and brokers. As cyber insurance expands and evolves, the insurance industry must make well-informed underwriting decisions to meet both market demand and ensure financial success...

As the availability of cyber-related data expands, cyber insurers and reinsurers have more information to factor into their underwriting and pricing...

In the field of cyber insurance, a strong understanding of the threats facing your clients helps build a better risk management program...

Today’s threats aim to do more than just steal intellectual property. They hijack software updates, destroy devices, steal resources, and take advantage of trusted tools within your network.

Which industries invest more in cybersecurity and how long is too long for business disruption? The impact of business interruption on revenue due to a cyber event remains an area of uncertainty for organizations...