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Cyber MGU At-Bay announced the appointment of insurance industry veterans to its board of directors yesterday—Scott Carmilani and David Lockton.

Scott Carmilani

Carmilani currently serves as executive chairman of Vault Insurance Services. He is the former chairman and CEO of Allied World Assurance Company Holdings, where he spent 20 years building the company from a small Bermuda operation into a worldwide reinsurance operation which was acquired by Fairfax in 2017.

Prior to Allied World, Carmilani held executive positions at AIG, including as the president and vice president of two major insurance divisions.

Lockton recently stepped down as Executive Chairman at Lockton Companies after serving for nearly three decades as President, CEO and then Chairman. He remains with Lockton as its Lead Director.

During his tenure, Lockton led the brokerage firm’s strategic vision and grew the company into the world’s largest privately owned brokerage.

David Lockton

With nearly six decades of experience between them, Carmilani and Lockton bring a strong track record of innovation and insurance expertise to At-Bay’s board, At-Bay said.

“At-Bay is committed to building the next generation of specialty insurance, with deep expertise in insurance and modern risk management,” said Rotem Iram, CEO and co-founder of At-Bay, in a media statement, expressing his enthusiasm to have the two men join during At-Bay’s next phase of growth. “Their experience building and running hugely successful businesses within the industry will be invaluable to our management team and continued success.”

Carmilani said that At-Bay “is on track to become a dominant figure and leader within the insurance industry.” He added, “They have consistently proven that with the right approach, cyber risk is insurable and can be a very lucrative line of insurance.”

Lockton noted that “At-Bay offers a great tech-enabled approach to a hugely underserved business sector,” also highlighting the “impressive sense of purpose and business ethic” of the leadership team.

At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital.

According to the company website, At-Bay t-Bay underwrites insurance policies through HSB Specialty Insurance Company, part of Munich Re, and Trisura Specialty Insurance Company.

Source: At-Bay