New York, NY (June 17, 2021) – Leading cyber insurers have announced the formation of CyberAcuView, a company dedicated to enhancing cyber risk mitigation efforts across the insurance industry. Through the collective expertise of its members, CyberAcuView will compile and analyze cyber-related data to enhance value and service to policyholders and help ensure a competitive market for cyber insurance.
Mark Camillo, most recently Head of Cyber for EMEA at AIG, has been appointed CEO.
The founding members of CyberAcuView will use their collective expertise to help the industry enhance the value and service for all policyholders in their cyber risk mitigation efforts by:
- Providing industry best-practices to improve resilience to cyber risk;
- Proactively engaging with regulators, law enforcement and other security agencies to counter cybercrime and the rapid rise of ransomware;
- Developing systemic risk solutions and advancing cyber policy language to improve market efficiencies; and
- Analyzing cyber trends to provide enhanced visibility on cyberattacks and the causes of loss so that insurers can identify critical controls and educate policyholders on loss prevention strategies.
Joining Mark Camillo on the leadership team is Monica Lindeen, former Insurance Commissioner for the State of Montana and past President of the National Association of Insurance Commissioners (NAIC), as Director of Regulatory Affairs; and James Schweitzer, a long-time veteran of the FBI and former COO of the National Insurance Crime Bureau (NICB), as Director of Law Enforcement Engagement.
“The cyber landscape continues to evolve with coordinated attacks becoming more frequent and disruptive,” said Camillo. “Combining resources from across the insurance industry will allow us to better understand cyber trends, anticipate and potentially mitigate future attacks, and help improve overall cyber resilience.”
AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers are among the group of cyber insurance underwriters that are sponsoring and supporting CyberAcuView. All CyberAcuView activities are conducted under strict antitrust review and guidance.
About CyberAcuView
CyberAcuView aims to:
- Help the insurance industry provide better value and service for policyholders in their cyber risk mitigation;
- Provide leadership in addressing cybercrime and increasing resilience to cyber risk; and
- Help ensure a competitive market for cyber insurance. CyberAcuView is industry-supported, working for the benefit of policyholders, the insurers that serve them, and the connected economy at large.
For more information, please visit cyberacuview.com.
Source: CyberAcuView
About AIG
AIG (NYSE: AIG) is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
About AXIS Capital
AXIS Capital (NYSE: AXS), through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2020 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. For more information, please visit www.axiscapital.com.
About Beazley
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. Beazley manages six Lloyd’s syndicates and, in 2019, underwrote gross premiums worldwide of $3,003.9m. All Lloyd’s syndicates are rated A by A.M. Best.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
Beazley’s European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business.
For more information, please visit www.beazley.com.
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at chubb.com.
Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at www.thehartford.com.
The Hartford Financial Services Group, Inc. (NYSE: HIG), operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please refer to The Hartford’s legal notice.
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2019 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2019 revenue. As of December 31, 2019, we had $43.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV), is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $32 billion in 2020. For more information about Travelers, visit www.travelers.com.
The Travelers Insurance Company of Canada, Dominion of Canada General Insurance Company and St. Paul Fire and Marine Insurance Company (Canada Branch) are the Canadian licensed insurers known as Travelers Canada. For more information about Travelers Canada, visit travelerscanada.ca.
Tags: AIG, Axis Insurance, Beazley, Chubb, Cyber Insurance, cyber security, launch, Liberty Mutual, The Hartford, Travelers
