Geoff White, underwriting manager for Cyber, Technology and Media at Barbican Insurance Group, has been elected chairman of the Lloyd’s Market Association’s (LMA) newly created Cyber Business Panel.
White was elected by the members of the panel on June 5. His deputy chair will be Tom Allen, head of Technology Liability & Data Protection Indemnity at Aspen, who was elected at the same meeting.
“I’m very excited to be nominated as chair of the cyber LMA panel for its inaugural term,” said White. “Lloyd’s is at the forefront of innovation in the cyber insurance sector, and the formation of this panel further demonstrates the commitment both at a market and syndicate level to meet head-on the challenges of this complex and constantly evolving class of business.”
The Cyber Business Panel has 21 members drawn from syndicates writing cyber business at Lloyd’s. Its role is to identify issues of interest or concern to Lloyd’s underwriters relating to cyber risk. It will also assist in revising wordings and will respond to requests for information from the Lloyd’s underwriting community. Current work includes cooperating with the Corporation of Lloyd’s on a range of issues including aggregation monitoring and systemic risk modeling.
Tony Ellwood, the LMA’s senior executive, underwriting, said: “The formation of this panel is a reflection of the heightened profile of cyber risk in the Lloyd’s market and its growing impact on other classes of business. It will be a source of real expertise and a forum for discussing the latest developments in what is a fast-moving class.
“It’s very pleasing that we’ve been able to attract some of the market’s highest profile cyber underwriters to join the group.”
Source: Lloyds Market Association
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