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It didn’t have a major impact on insurers’ finances – instead, it served as a wake-up call. -
The insurer first noticed “unusual network activity” on June 7.
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Coverage has broadened while limits have increased, the broker said.
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The executive was formerly head of cyber solutions, North America.
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The carrier has scaled up its international insurance offering in recent years.
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The company first experienced system disruptions on June 7.
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Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
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The Miami-based underwriter will write lines of up to $5mn per risk for cyber and tech E&O.
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Strong underwriting performance and aggressive repricing of risks in most lines has aided stability.
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“Models aren't going to tell you what the emergent risks today are,” Dolan said.
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The Nordic operations have capacity provided by Allianz Commercial.
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