Hamilton Insurance Group has created a new cyber team at Pembroke Managing Agency Limited, which it acquired recently.
The new four-member cyber team will be headed by divisional director Jacqueline Spencer-Sim.
Other members of the team include senior underwriter Iain Ainslie, underwriter Maria Mathews, and assistant underwriter Jack Butler.
Concurrently, the insurer also launched a new cyber product, known as Hamilton Cyber Sentinel (HCS).
The development of the HCS was carried out under the supervision of Spencer-Sim and her team, the company said in its press statement.
Coverage offered by the new cyber product includes the replacement costs of affirmative hardware and software.
Post-breach remediation such as employee training and specific marketing campaigns will also be covered by the new product.
“The HCS aims to streamline claims response on a worldwide basis. HCS’s line size at market launch is $10m, increasing to $15m in January 2020,” the company said in its press statement.
Pembroke CEO Tim Glover 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. Responding to the needs of our clients is one of our hallmarks, and HCS is entirely consistent with that ethos.”