A veteran Chubb executive is joining specialist insurer Beazley as its new Head of U.S. Cyber & Tech.
Patricia Kocsondy was previously senior vice president, errors & omissions (E&O) and cyber underwriting, for Chubb Limited’s North American Financial Lines.
While at Chubb, Kocsondy was responsible for strategic leadership and direction, portfolio management, product development and underwriting strategy, extending over a broad span of Chubb’s E&O and cyber segments and products.
Kocsondy also previously held roles at Ace Limited, Chubb & Son, a division of Federal Insurance Company, and The Hartford Financial Services Group, Inc.
“Patricia’s experience and expertise brings new insight to our team in the U.S. as we work with our brokers and clients to help strengthen their cyber defenses and mitigate risk,” Paul Bantick, Beazley’s Head of Global Cyber & Tech, said in prepared remarks.
As Beazley’s hiring announcement notes, the cyber risk landscape has both worsened and broadened since the coronavirus pandemic. Ransomware has become more frequent and severe, and extortion demands keep growing in size. Cyber insurers themselves are raising rates through the roof in order to keep up with escalating cyber costs.
Kocsondy will be based in New York, report to Bantick and focus on middle market and large risk cyber & tech underwriting in the U.S.