Hamilton’s Pembroke Managing Agency Forms Cyber Team, Launches Cyber Product

Hamilton Insurance Group Ltd. announced the launch of a new team of underwriters at the recently acquired Pembroke Managing Agency Ltd. and the development of a new cyber product.

Pembroke’s four-person cyber team is led by divisional director Jacqueline Spencer-Sim. Spencer-Sim is joined by senior underwriter Iain Ainslie, underwriter Maria Mathews and assistant underwriter Jack Butler.

Spencer-Sim and her team have developed Hamilton Cyber Sentinel (HCS), a product that includes the replacement costs of affirmative hardware and software as well as post-breach remediation such as employee training and specific marketing campaigns.

With a global panel in place and monetary retention replacing a waiting period, HCS aims to streamline claims response on a worldwide basis.

HCS’ line size at market launch is $10 million, increasing to $15 million in January 2020, the company said.

“I’m delighted with the comprehensive work that Jacqui and her team have done to bring this product to market,” said Pembroke Chief Executive Officer Tim Glover. “HCS represents a strategic shift for Pembroke from being a follow to a lead market in this segment, managed by an expert team of underwriters. Responding to the needs of our clients is one of our hallmarks, and HCS is entirely consistent with that ethos.”

Biographies of the HCS Team

• Jacqueline Spencer-Sim. With more than a decade’s combined cyber broking and underwriting experience, Spencer-Sim began her cyber career in 2009 at Beazley’s Syndicate 2623, working on the Technology Media Business team during the Beazley Breach Response launch. Prior to joining Pembroke, she was class underwriter at AXIS (formally Novae), with specific responsibilities for business and relationship development, as well as for binder management and underwriting large corporate accounts.
• Iain Ainslie. Ainslie has had more than 30 years’ experience in the London insurance market. Prior to joining Pembroke, he led the cyber team at Equinox Underwriting. Before Equinox, he spent six years leading the cyber and technology team for ACE (now Chubb) Global Markets, underwriting cyber and technology risks. He is one of the early pioneers in cyber insurance.
• Maria Mathews. Mathews joined Pembroke in 2015, working initially with the Financial Planning and Analysis team in Dublin. In 2017, she joined the International Casualty team as an underwriter, moving to the Cyber Division on its inception in June of this year.
• Jack Butler. Butler finished the Lloyd’s of London graduate scheme in September, having completed internships at the Corporation of Lloyd’s, Price Forbes, Barbican and, most recently, Aspen. He holds a Bachelor of Arts degree (first-class honours) in Business Administration (Accounting) from the University of Kent in Southeast England, and is an associate of the Chartered Insurance Institute.

Source: Hamilton Insurance Group

Topics Cyber Talent New Markets Underwriting