New unit to address regulatory challenges linked to cyber and technological risks
ACE has launched its Global Cyber Risk Practice with the appointment of Toby Merrill as division senior vice-president.
The new unit aims to address growing cyber risks as legislation and exposures for privacy and network security evolve around the world.
Merrill was formerly vice-president and national product manager for the insurer’s network security, privacy and technology errors and omissions liability products in the US. He will bring together the global expertise, underwriting capabilities and services of ACE’s existing cyber risk-related business units to offer products and solutions for brokers and clients.
Based in Philadelphia, Merrill will report jointly to Tim O’Donnell, executive vice-president, financial lines, ACE Overseas General, and Scott Meyer, division president, professional lines, ACE US.
He will also work closely with Iain Ainslie, technology and cyber underwriter at ACE European Group in London and the wider cyber risk team across the EMEA.
Tim O’Donnell, executive vice-president, financial lines, ACE Overseas General, said: “Our new Global Cyber Risk Practice represents a further commitment to provide seamless coverage for our multinational customers around the world and Toby’s proven underwriting success, demonstrated industry-leading knowledge regarding emerging cyber risks and his track record in building broker and client relationships will be a strong support and complement to ACE’s dynamic local underwriting teams here in Europe.”
Iain Ainslie, technology and cyber underwriter at ACE European Group, added: “Today, cyber risk exposures have no boundaries and ACE is one of the few insurers capable of delivering truly global services to brokers and clients. I am therefore confident that bringing together our worldwide experience and resources into a single centre of excellence will be of great benefit to our European broker partners and clients as we continue to build out our offering to meet their evolving risks and exposures.”