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With rate increases potentially falling short of rising loss costs, who will drive the changes needed in cyber? -
The Beazley CEO also revealed plans to buy more reinsurance for FI and D&O.
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The firm is one of a few carriers writing cyber for municipalities and townships in the US.
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The exit is understood to be part of a restructuring of the broker's cyber team.
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The company has so far recouped $77mn from the March 2019 attack, which it previously estimated caused losses of up to $81mn last year.
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The move marks a return to broking for the executive who, prior to Axa XL, worked at Willis Towers Watson.
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Speakers say clarity on coverage will limit cyber aggregation risk.
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Previous cyber rising stars Adam Taylor of Brit and Camilla Walker of Canopius move up the 2020 league table.
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The portal will be aimed at international brokers placing non-US risks and will hold a wide range of information.
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Covid’s “slow, prolonged and symmetric” nature contrasts with a cyber attack or supplier outage, operations expert Nick Strange notes.
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The pandemic has shown that acting ahead of a major event and ensuring wordings clarity are key.
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The move marks the latest sign of capacity retreat from the sector.
