Dedicated Global Risk Solutions team aims to help companies and brokers across the world better manage complex and emerging cyber risks
Boston-based Liberty Mutual Insurance has made a major foray into the cyber insurance marketplace. The top 25 P&C insurer has announced the formation of a Global Risk Solutions (GRS) Global Cyber Office and the appointment of respected experts to key leadership roles.
“Cyber is among the most complex risks facing companies,” explained GRS Insurance Solutions President Liz Geary in an official announcement. “And it is that very complexity that lets us add true value to risk managers and brokers. Our newly created office and leaders align and elevate our expertise in cyber underwriting, product, claims, and risk prevention and mitigation to provide a global platform helping companies better address this critical risk.”
The company’s plans to offer its new cyber capabilities around the world and will implement a multidisciplinary approach to dealing with the complex risks that span both geographies and industries.
Insurer is also appointing a whole new team to the endeavor
In addition to launching this new office, GRS Insurance Solutions President Liz Geary also plans to appoint a new global head of cyber, who will report directly to her. In the meantime, Ms. Geary will lead the endeavor office pending the appointment of the new global head.
In addition to the global head, four new leadership appointments were also announced as joining the new Global Cyber Office. They include:
- Dan Frusciano, North America head of cyber underwriting, who is responsible for overseeing cyber underwriting strategy for US, Canada, and Bermuda.
- Matthew Hogg, global cyber product leader, who is responsible for driving and enabling cyber product development, standards, training, pricing and profitability.
- Derrick H. Lewis, global head of cyber advisory services, who is responsible for developing and leading the capabilities, frameworks, and tools for enhanced risk identification and selection, response, and consulting services for our underwriters, claim professionals, and insureds.
- Ivonne Staisch, Liberty Mutual Reinsurance head of cyber underwriting, who is responsible for overseeing cyber underwriting strategy for Liberty’s global reinsurance business
The launch of the Global Cyber Office and the appointments of key leaders are the latest investment within the GRS Office of Underwriting, which was formed in 2022 to drive results through underwriting excellence, consistent global product strategies and a common view of risk. Since joining the Office of Underwriting in 2022, Ms. Geary has focused on building her Insurance Solutions leadership team, charged with providing global support to new and rapidly evolving risks in the market.
