Ace Ltd. has launched its global cyber risk practice, naming Toby Merrill as its leader, the insurer said Friday.
The practice aims to address growing risks as legislation and exposures for privacy and network security evolve and demands for cyber risk insurance and risk management solutions increase, Switzerland-based Ace said in a statement.
“Ace is already a global leader in cyber risk insurance, with specialist underwriting, risk engineering and service capabilities spanning four continents,” Tim O'Donnell, executive vice president for financial lines, Ace overseas general, said in the statement. “Cyber risk exposures have no boundaries, and Ace is one of the few insurers capable of delivering truly global services to brokers and clients.”
Mr. Merrill's new title is division senior vice president, global cyber risk practice. Previously, he was vice president and national product manager for Ace's network security, privacy and technology errors and omissions liability products in the U.S., according to the statement.
He is based in Philadelphia.
“We're pleased to have Toby lead this initiative,” Scott Meyer, division president for professional lines at Ace USA, said in the statement. “His proven underwriting success, demonstrated industry-leading knowledge regarding emerging cyber risks, and track record in building broker and client relationships will complement Ace's strong and dynamic underwriting teams as we continue to build out our offerings to meet the evolving risks and exposures of our clients.”