ace_logo_1ACE Group snatched up a long-time Zurich executive to help propel its cyber insurance business internationally.

Tim Stapleton is now vice president and cyber insurance product manager for ACE Overseas General, which handle’s ACE’s general insurance business outside of North America. He will be tasked with advancing and quickening the development and launch of ACE’s various cyber initiatives.

Among the executives Stapleton now reports to at ACE: Toby Merrill, senior vice president, global cyber practice leader. Merrill, in prepared remarks, noted Stapleton’s status as a “recognized subject-matter expert and leader in network security, privacy and cyber risk.”

Merrill added that Stapleton’s hiring “further represents ACE’s significant commitment to develop and execute best-in-class cyber insurance products and solutions.”

ACE, in its announcement of Stapleton’s hiring, touted his 12 years of experience with underwriting and management involving professional liability and cyber risk.

Over at Zurich General Insurance, Stapleton’s most recent position was as global underwriting manager for professional and management liability. The Zurich job entailed the development, launch and maintenance of global technical underwriting standards, product strategies and guidelines for Zurich’s professional and management liability and cyber lines.

Before that, Stapleton was Zurich’s deputy global head of professional liability. In that role, he developed and implemented technical underwriting standards for Zurich’s global professional liability portfolio.

Stapleton hasn’t always been at Zurich, however. He launched his career at American International Group as a senior underwriter for professional liability, ACE noted.

Stapleton’s job at ACE will encompass underwriting, strategy, product development, vendor management and leading ACE’s regional teams. He’ll be based and London.

ACE Ltd., the parent company of ACE Group, recently announced plans to buy Chubb for $28 billion.

Source: ACE Group

Topics Cyber Underwriting Chubb