USQRisk, the international managing general agent specializing in alternative risk transfer solutions, has announced the launch of Pera, a managing general agent providing cyber and blended cyber and technology E&O insurance to large U.S. domiciled corporate risks.
Pera is a division of Desq, USQRisk’s managing general agent accelerator and incubator, and is the first program to be brought to market by Desq. Pera will be managed by its new chief underwriting officer, Jeffrey Batt.
Batt brings a background in national security and cybersecurity to his role as Pera’s CUO and head of cyber. Prior to Pera’s launch, Batt held cyber leadership roles at M&T Bank, AmTrust Financial Services and Trium Cyber U.S. Services, where he was head of product. Prior to that, Batt was a senior client advisor at Marsh and served as an associate deputy general counsel at the U.S. Department of Defense.
“Cyber is a dynamic risk that continues to surprise and challenge even the most prepared entities, and we are excited to have Chaucer’s support in providing additional specialized capacity,” Batt said. “Desq has been instrumental in getting us to a point where we are ready to launch, and I look forward to working alongside the experts at USQRisk and Desq as we deliver new cyber products and solutions to the market.”
Pera will develop products for the U.S. market for Chaucer Group, an international specialty insurance and reinsurance group headquartered in London, which has significant underwriting expertise in cyber-related risks. While Pera’s offering is being made available for a broad range of cyber risks, Batt noted that Pera will prioritize entities with a strong security posture.
“The launch of Pera is an exciting opportunity for the U.S. market, especially as cyber risks become increasingly complex and the need for specialized solutions increases,” said Piers Tuggey, head of cyber at Chaucer. “The combination of Chaucer and Pera underwriting expertise with A-rated capacity and USQRisk distribution capabilities brings a compelling offer to the cyber market.”
Topics Cyber Insurance Wholesale
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