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Hamilton Insurance Group Ltd. said Wednesday it has created a team of cyber underwriters at its recently acquired Pembroke Managing Agency Ltd. and developed a new cyber product.
London-based Pembroke’s cyber team is led by divisional director Jacqueline Spencer-Sim, who most recently was a class underwriter at a unit of Pembroke, Bermuda-based Axis Capital Holdings Ltd. Other team members are senior underwriter Iain Ainslie, underwriter Maria Mathews and assistant underwriter Jack Butler.
The statement by Bermuda-based insurer and reinsurer Hamilton said Ms. Spencer-Sim and her team have overseen the development of Hamilton Cyber Sentinel, a product whose coverage includes hardware and software replacement costs as well as post-breach remediation such as employee training and specific marketing campaign. It said the product’s limit at market launch is $10 million, which increases to $15 million in January.
Hamilton said in August it had completed its acquisition of Pembroke from Liberty Mutual Insurance Co., along with Liberty Mutual’s Lloyd’s of London platform and Dublin-based insurer Ironshore Europe DAC.
Tony Ursano, former president, was also named Hamilton’s group financial officer at the time.
Hamilton Insurance Group, the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and at Lloyd's of London, said Dermot O'Donohoe is leaving his position as CEO of Hamilton at Lloyd's.