AXIS Insurance said it is merging its U.S. Cyber, Technology, Media and Miscellaneous Professional Liability businesses into one major division to better address “borderless risks.”
Dan Trueman has been appointed as global head of the division, dubbed the Global Cyber and Technology unit. AXIS Insurance is the insurance business segment of AXIS Capital Holdings Limited.
AXIS said the unified global team is designed to help the Bermuda-based provider of specialty lines insurance and treaty reinsurance better deliver its cyber and technology offerings to customers globally.
“We are launching this consolidated unit to ensure we effectively and efficiently deliver one single global approach to cyber and technology risks and thus increase the value that we provide to our clients and partners,” Trueman said in prepared remarks. “Both cyber and technology are borderless risks, and with this global unit we can utilize the international lens we have and the wide AXIS international footprint to leverage the full scope of our underwriting expertise and claims services.”
In AXIS’s corporate structure, the company’s new Global Cyber and Technology unit is part of AXIS Insurance’s Professional Lines division. Trueman will continue to report to John Van Decker, president of North American Professional Lines and global lead, Professional Lines, for AXIS Insurance.
As part of the launch of its consolidated Global Cyber and Technology unit, AXIS also announced the promotion of Drew Walter to the newly created role of head of Cyber and Technology Underwriting Delivery, reporting to Trueman. In this role, Walter will be responsible for ensuring that AXIS further grows its cyber and technology insurance underwriting capabilities to best fulfill client and broker needs. Walter previously served as a senior vice president for AXIS Pro.
AXIS launched its AXIS Cyber Center of Excellence earlier this year as a global resource that provides mentorship, education, consulting services and solutions to help improve brokers’ and insureds’ understanding of cyber risk.
Source: AXIS Capital Holdings