Willis Towers Watson, Lockton, Markel International Appoint New Cyber Chiefs

Willis Towers Watson, Lockton and Markel International each have appointed new cyber chiefs.

Willis Towers Watson has appointed Peter Foster as chairman of Global FINEX Cyber and Cyber Risk Solutions. Foster has been with WTW for more than 14 years and has been instrumental in building the company’s global cyber capabilities, said WTW in a statement.

In a recent report from WTW and independent researcher ESI ThoughtLab, annual losses from cyber attacks averaged $4.7 million in the last fiscal year — with more than one in 10 firms losing over $10 million. “Our recent data highlighting the increasing number of firms losing considerable sums from cyber attacks demonstrates the need for robust cyber-security solutions,” commented Foster.

Foster is stepping into the role recently vacated by Anthony Dagostino, who spent three and a half years as global head of cyber risk consulting and insurance at Willis Towers Watson before he moved to the broker Lockton to take on the role of executive vice president, Global Cyber and Technology Practice leader. That appointment was announced in mid-July.

With more than 15 years of cyber risk management experience as an underwriter as well as a brokerage cyber risk practice leader, Dagostino will collaborate with Lockton’s global cyber and risk management experts to further Lockton’s cyber strategy, the broker said.

In yet another cyber announcement, Markel International, the specialist insurer and subsidiary of Markel Corp., has appointed Chris Burgess to head its cyber team in London.

Burgess joins Markel with over 15 years of experience working in financial and professional lines insurance, having held a variety of roles throughout his career, most recently as UK cyber leader at AIG, where he was responsible for its cyber, technology, Telco and media professional indemnity portfolios, as well as leading and implementing global strategies. He worked in various roles for AIG between 2012 and 2019.

At Markel, Burgess will be developing Markel’s long-term cyber underwriting strategy and direction and will work with brokers and the Markel underwriting team to keep them apprised of emerging threats and trends in the cyber space.

Burgess will report to Scott Bailey, who became managing director of cyber for Markel International earlier this year when the team developed into a separate underwriting division.

Commenting on the appointment, Bailey said: “We’re delighted to welcome Chris as head of our London cyber team at this exciting and critical time. We formed an all-new underwriting division earlier this year and have very recently launched our new product Cyber 360 and so his appointment reinforces both our continued growth and our ambition in this space.”

Source: Willis Towers Watson, Lockton and Markel International

Topics Cyber Willis Towers Watson