A year of transition for the cyber market
Cyber insurance helps protect businesses from events like ransomware, data theft, system damage, and business interruption caused by cyber incidents. The market is fast growing but still maturing, having moved quickly from early exposure driven expansion to sharp pricing corrections and now a period of sustained softening. With the industry widely recognising that profitability is nearing its floor, there remains little clarity on what will shape the next stage of market development.
In the cyber insurance: finding the floor report we combine insights from regional cyber insurance experts from Australia, Europe, New Zealand, United Kingdom and United States giving a forward looking view of the global market. They share their views on what is required to sustain a market that underpins resilience, against an increasingly complex cyber threat landscape.
Why read the report?
- The five key themes defining the current market position
- Perspectives from our regional cyber experts from Australia, Europe, New Zealand, United Kingdom and United States.
- What lies ahead for cyber insurance
Why DUAL for cyber insurance?
Global and regional expertise
Our team of around 50 specialist cyber underwriters brings deep global and regional expertise, operating across our offices in 21 countriesProactive threat intelligence
We blend our framework with leading technology partnerships and in-house expertise to deliver proactive customer monitoring and cyber threat intelligence at the insured levelBespoke solutions for brokers
Our solutions are tailored to the needs of their clients, underwriting‑led and technology‑enabled, allowing faster, more informed decisions
Cyber partnerships
DUAL is introducing a number of solutions from partners including CyberCube and KYND to scan policyholders from the outside, helping us spot security issues at quote, identify newly emerging vulnerabilities quickly, and better understand how risks accumulate across our portfolio. Your regional cyber expert can share details of what is available.
Contact us
Head of Cyber Hub, DUAL EuropeAli joined DUAL in early 2022 with the mission to build a team of expert cyber underwriters and integrating underwriting expertise with DUAL’s presence and reach across Continental Europe. His background includes substantial experience in both reinsurance and primary insurance. Previously, Ali held various roles at Munich Re, contributing to the development of Munich Re’s Cyber product and building profitable portfolios of scale. He has worked across diverse markets including the US, Lloyd’s, and various Continental European countries. Before specialising in Cyber, Ali was an Underwriter for Financial Lines risks.
Cyber Underwriting Manager, DUAL ANZCiaran is a skilled insurance professional with experience in the Irish, UK and Australian markets. He served as a Senior Development Underwriter at Hiscox UK & Ireland from 2015 to 2022, where he led new business cyber initiatives.
Currently, Ciaran is the Cyber Underwriting Manager at DUAL Australia, specialising in cyber insurance across Australia and New Zealand. He also has a strong background in various financial lines products and managing delegated authority agreements.
Ciaran holds a Bachelor of Business in Risk Management and Insurance from the University of Limerick, an ACII from the Chartered Insurance Institute and a CCIS certification from the Cyber Insurance Academy.
Director, DUAL LatAmHumberto has 25 years of experience as an underwriter. Previously worked at Itau Seguros, Allianz, Zurich and Chubb.
Executive Vice President, Cyber and Professional Lines, DUAL North AmericaPaul joins DUAL with more than 25 years of experience in the cyber and professional liability market. He brings deep relationships across the industry, including with buyers, producers, and underwriting partners, together with a strong track record of building and scaling profitable portfolios.
In his new role, Paul will lead DUAL’s Cyber and Professional Liability businesses, working closely with underwriting teams across North America and globally. His appointment follows DUAL’s recent expansion of its North American cyber appetite and the launch of the company’s enhanced global cyber strategy, positioning the organization for accelerated growth and innovation in these critical specialty lines.
Senior Cyber Underwriter, DUAL UKScott's role revolves around assessing proposals for cyber insurance, ensuring they meet DUAL’s minimum standards, and addressing any concerns by asking clarifying questions. Once these steps are taken, Scott delivers formal quotations, with the ultimate goal of binding those terms to create a mutually beneficial relationship between the client and DUAL.
Scott's journey into cyber insurance began during a career move to Dubai in 2012. Initially asked to manage a Professional Indemnity (PI) book, Scott saw an opportunity to drive the development of Cyber in the region. His passion for cyber insurance stems from the dynamic nature of the product and the constant evolution of the market. He enjoys the challenges posed by the industry, especially navigating between hard and soft market conditions, viewing it as part of the fun.
Scott is keen to underwrite risks for Financial Institutions and Asset/Investment Managers—sectors that are currently in high demand. While these sectors carry high risks, their robust regulatory frameworks and maturity in cybersecurity make them attractive risks to write. Their comprehensive safeguarding of data and systems presents an exciting opportunity for Scott to craft tailored insurance solutions.
