Chubb Bolsters Cyber Risk Practice, Names Cyber Industry Veteran Bill Stewart to Lead Global Business
WHITEHOUSE STATION, N.J., July 11, 2017 /PRNewswire/ — Chubb has bolstered its cyber risk practice and named cyber industry veteran, Bill Stewart, Division President of Chubb’s Global Cyber Risk practice, where he will lead the development and implementation of Chubb’s strategy to deliver the next generation full suite of property and casualty cyber insurance offerings, worldwide. This global cyber practice will deliver Chubb’s risk transfer, loss mitigation and incident response services for the rapidly evolving threats faced by businesses of all sizes and individuals.
In addition, Mr. Stewart will collaborate with David Cowart, Chubb’s Chief Information Security Officer and the Enterprise Risk Management team in developing cyber security best practices for the company.
«The number and complexity of cyber exposures have grown exponentially over the last few years,» said John Lupica, Vice Chairman, Chubb Group, President, North America Major Accounts and Specialty Insurance. «The decision to make our Cyber Risk practice a standalone business under a forward-thinking leader like Bill adds another level of depth and thought leadership to Chubb’s offerings in this segment. His extensive knowledge of global cyber risks, coupled with his background and experience in providing cyber counsel to organizations across different industries, will complement the underwriting, servicing, claims handling capabilities and enterprise risk management that distinguish Chubb in the market,» he said.
Based in New York, N.Y., Mr. Stewart will report to Mr. Lupica. Michael Tanenbaum, Executive Vice President, North America Cyber Practice, will spearhead the practice in North America and report jointly to Mr. Stewart and Scott Meyer, Division President, North America Financial Lines. Tim Stapleton, Senior Vice President, Cyber Product Manager and Technology Practice Lead for Chubb’s Overseas General Insurance division will lead the cyber practice outside North America and report jointly to Mr. Stewart and Tim O’Donnell, Chief Operating Officer, Property & Casualty and Executive Vice President, Financial Lines, Overseas General Insurance. Messrs. Tanenbaum and Stapleton, with Mr. Stewart’s leadership, will be responsible for coordinating strategic initiatives around the company’s cyber risk underwriting, services and operations in their respective regions.
With nearly three decades of experience, Mr. Stewart most recently served as Executive Vice President at Booz Allen Hamilton, where he was responsible for the firm’s Commercial Cyber Business. He joined Booz Allen in 1989 as an Information Assurance Business Leader and was promoted throughout his tenure to larger leadership roles. From 2013 to 2015, Mr. Stewart led Booz Allen’s commercial financial services business. Earlier, he worked for RCA where he developed communications security and key management devices. He also served various positions in the United States Army, including a signal officer, battalion commander, and company commander.
He holds a Master of Science degree in electrical engineering from Drexel University, Philadelphia, Pa., and a Bachelor of Science degree in engineering from Widener University, Chester, Pa.
About Chubb’s Global Cyber Risk Practice
Chubb was a pioneer in the cyber insurance marketplace when it began to offer its first cyber risk product in 1998. Today, Chubb’s Global Cyber Risk Practice brings together the global expertise, underwriting capabilities, and claims and loss control services from the insurer’s cyber risk related business units around the world, giving policyholders access to a worldwide network with the personalized touch of a local underwriter who understands their unique cyber risks. The practice services Chubb’s network of 620 global offices in 54 countries, including 48 branch offices across North America, with distribution provided through an expansive agent and broker network that crosses independent, wholesale, and international markets. A broad suite of best-in-class products and solutions is available for all industries, with a focus on Technology, Financial Institutions, Professional Services, Law Firms, Non-Profits, Healthcare, Life Sciences, Retail, Museum and Cultural Institutions, Educational Institutions, Entertainment, Broadcasters, Manufacturing, Wineries, Clean Tech, Construction, Energy, Government Contractors, and Private Equity.
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at www.chubb.com.
Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.