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Based in New York, the executive will oversee the newly created Alliant Cyber, one of the retailer’s 14 industry verticals. -
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The executives will report to AGCS regional head of cyber, tech & media, Tresa Stephens.
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While Canopius has been in the US for 10 years, the insurer has been building “a multi-platform approach” in which underwriters can write business on several different types of paper.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The business line’s premium increases this year were less pronounced than in 2021, when quarterly renewals were in the 50%-200% range.
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The operation will be led by global product VP Mitesh Chauhan, who joined the cyber risk modeling firm from Entrust.
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The cyber MGA promoted Dan Law to chief commercial officer, Theresa Le to chief claims officer and Neeraj Juneja to chief risk offer and finance SVP.
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Global cyber premiums are expected to reach $23bn by 2025 but, with predicted global annual losses of around $945bn, roughly 90% of the risk remains uninsured.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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RPS said ransomware attacks are more sophisticated, with ransomware-as-a-service expected to become one of the biggest threats in the coming months.
