Hamilton develops new cyber product
Bermudian-based Hamilton Insurance Group Ltd has announced the launch of a new team of underwriters at recently-acquired Pembroke Managing Agency Ltd as well as the development of a new cyber product.
Pembroke’s four-person cyber team is led by divisional director Jacqueline Spencer-Sim, who is joined by senior underwriter Iain Ainslie, underwriter Maria Mathews, and assistant underwriter Jack Butler.
The company said that Ms Spencer-Sim and her team have overseen the development of Hamilton Cyber Sentinel, a product whose coverage includes the replacement costs of affirmative hardware and software as well as post-breach remediation such as employee training and specific marketing campaigns.
With a global panel in place and monetary retention replacing a waiting period, the company says that HCS aims to streamline claims response on a worldwide basis. HCS’s line size at market launch is $10 million, increasing to $15 million in January 2020, the company said.
Tim Glover, chief executive officer at Pembroke, said: “I’m delighted with the comprehensive work that Jacqui and her team have done to bring this product to market. HCS represents a strategic shift for Pembroke from being a follow to a lead market in this segment, managed by an expert team of underwriters.”
Hamilton, which underwrites speciality insurance and reinsurance risks on a global basis through its wholly owned subsidiaries, acquired Pembroke in August of this year.
Covid-19 testing an issue in US
Argus buy-up a ‘huge conflict’
Sudden death in Warwick
‘Filthy beast’ recalls unusual childhood
Offers made for parts of AS Cooper
Man accused of 2018 unlawful killing
Man injured in stabbing
Take Our Poll