Two new underwriters have been appointed for the UK and Ireland markets
With cyber risk insurance demand expected to increase 150% by 2020, Chubb is working towards strengthening its cyber risk team for the UK and Ireland markets, and has appointed two dedicated underwriters for that purpose, Lauren Webb and Chris McMurray.
Webb will be responsible for underwriting the US, UK and international risks placed via Lloyd’s and London market brokers into Chubb and the development of London broker relationship, while McMurray based in Glasgow, will be reporting to Tim Jones, PI and Cyber Manager for Chubb in the UK and Ireland.
The appointments follow the recent launch of Cyber Enterprise Risk Management – a new cyber incident response partnership with Crawford & Company – and a Global Cyber Facility that provides up to US$100m of primary capacity for larger companies.
Chubb UK and Ireland president David Robinson said: “In our 2015 Emerging Risk Barometer, technology risk topped UK risk managers’ list of emerging risks, which is no surprise as almost two thirds of large UK businesses and half of middle-sized ones have experience at least one cyber incident in the past year.”
He added: “The appointment of Lauren and Chris highlights our commitment to providing our UK and Ireland-based clients with superior underwriting solutions.
“I am confident their skills and experience will ensure we offer an exceptional service as we take our cyber risk proposition into its next phase.”
Chubb Global Markets president said: “The cyber insurance market is rapidly evolving and London’s role as an international centre of excellence is growing.”