Validus Specialty Launches Standalone Cyber Insurance Product

NEW YORK--(BUSINESS WIRE)-- The Cyber and Technology insurance group of Validus Specialty Underwriting Services, Inc. (“Validus Specialty”) further expanded its offering with a standalone cyber insurance product focused on privacy and network protection coverage. The solution will meet the cyber risk challenges faced by U.S. companies with revenue between $150M-$2.5B, and offer comprehensive cyber insurance protection with risk mitigation and remediation services.

“Cyber exposures change rapidly. Increasingly, businesses beyond the enterprise level understand robust cyber insurance solutions are essential to their risk management,” said Jackie Lee, Validus Specialty’s Vice President of Cyber Technology and Errors & Omissions, “With this product, companies will have the protection they need, complimented by extended vendor services to help navigate incidents.”

The product has been designed to provide cyber insurance protection across a range of client industries. It will be written out of Validus Specialty’s operations.

Jonathan Ritz, CEO of Validus Specialty added, “With this new cyber insurance product, our underwriters are meeting the needs of U.S. brokers and clients by broadening our suite of offerings yet again. I’m pleased to see this group consistently expanding; it’s a lynchpin in our insurance growth strategy.”

Jackie leads the Cyber and Technology insurance group and has over 18 years of experience in the insurance sector, primarily in cyber technology and errors & omissions (E&O). The group includes Senior Underwriter Mary Spicer, who previously held roles at Aon Risk Services and Nationwide specializing in Cyber and E&O risks, and Underwriter Kevin Masone, who joins Validus Specialty from Nationwide.

Commenting on the team’s development, Jackie added, “As we accelerate the build-out of our capabilities in the U.S., a continued priority is applying strong underwriting talent to serve our brokers and clients. We’re pleased Kevin joined the team. He brings a depth of experience in cyber risk management.”

Learn more about Validus Specialty’s Standalone Cyber Product here.

Validus Specialty Underwriters

Validus Specialty offers a wide range of E&S and Admitted insurance solutions and operates on behalf of Western World Insurance Group and Talbot Underwriting Ltd., through Syndicate 1183.

With the flexibility of offering ‘A’ rated Lloyd’s paper and ‘A’ rated U.S. domestic excess & surplus lines and admitted paper through Western World insurance companies, Validus Specialty offers enhanced distribution access, excellent technical underwriting and claims management, and access to leading underwriting capacity.

About Validus Holdings, Ltd.

Validus Holdings, Ltd. is a leading global provider of reinsurance, insurance, and asset management services, delivering its premier solutions through four diversified yet complementary operating companies: Validus Reinsurance, Ltd., a global reinsurance group focused primarily on treaty reinsurance; Talbot Underwriting Ltd., a specialty (re)insurance group operating within the Lloyd’s market through Syndicate 1183; Western World Insurance Group, Inc., a US specialty lines organization; and AlphaCat Managers, Ltd., a Bermuda-based investment advisor managing capital for third parties and Validus through insurance-linked securities and other property catastrophe and specialty reinsurance investments.

Research and analytics are at the core of Validus’ operations and provide its team of expert practitioners with the knowledge and insight required to effectively model and interpret risk – an approach that consistently benefits clients and ensures their needs are met. Validus maintains a worldwide presence with more than 1,000 employees in 19 offices across all major regions and is listed on the New York Stock Exchange under the ticker symbol VR.

More information about the Validus group of companies can be found at validusholdings.com.

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Validus Holdings, Ltd.

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Source: Validus Holdings, Ltd.