Nashville, Tennessee-based Elysian, a new third-party administrator (TPA) leveraging artificial intelligence, has officially launched with $3mn in pre-seed funding led by American Family Ventures.

Fewer insureds have confidence in the ability of cyber insurance to cover the cost of an attack as compared to last year, a Cyber Insurance Outlook 2024 survey from Arctic Wolf found.

Envelop Risk has secured a three year extension to its capacity agreement with MS Reinsurance as the cyber-focused firm confirms it has reached $1bn in premium since its 2018 launch.

Wholesale broker ARC Excess & Surplus has hired Shiraz Saeed as senior vice president, product leader - cyber and technology risk.

San Diego-based endpoint detection and response company Cybereason has bolstered its incident response team with four hires – Michael Quinn, Roy Cazares, Denman Powers and Michael Flicek – all joining from Kroll.

The soft market in the US cyber insurance market will persist but may be tempered by emerging geopolitical tensions, expects Amwins, which also said that recent high-profile incidents have only had a “somewhat muted” impact.

Nationwide has named James Walsh head of E-Risk Services, its wholesale distribution subsidiary for private company specialty lines underwriting.

Less than half (45 percent) of leaders at large and mid-sized UK businesses believe their cyber insurance cover is effective in reducing losses in the event of cyber incident, a new study by Resilience has found.

Former Coalition executive Madison Mooney has joined Tokio Marine HCC – cyber & professional lines group (CPLG) as director of business development.

Beazley Security has appointed two vice presidents to support its growth and geographic expansion; Stephanie Webb will oversee sales in the UK and Europe, while Jason Deering will focus on expanding client engagements across the Americas.