$ORI (-0,89 %) Old Republic International Corporation has announced the formation of a new insurance services subsidiary, Old Republic Cyber, Inc. that will offer cyber and technology errors and omissions (E&O) insurance products.
The new company will be led by CJ Pruzinsky as President, Kevin McGowan as Executive Vice President and Chief Underwriting Officer. Old Republic Cyber will focus on providing specialty coverage for cyber and technology risks.
Pruzinsky brings 18 years of experience in cyber insurance and has held key positions at AIG, Beazley and most recently Resilience. McGowan has 15 years of experience in cyber insurance and has worked at Ace, Beazley and Resilience.
Craig R. Smiddy, President and CEO of Old Republic, said, "We are excited to have both CJ and Kevin join Old Republic and expand our underwriting expertise and interest in new lines of insurance that align with our specialty strategy and focus on underwriting excellence. We look forward to combining CJ and Kevin's leadership and industry knowledge with Old Republic's brand, resources and financial strength."
Old Republic Cyber is the seventh specialty company Old Republic has launched in the last nine years, further diversifying and strengthening the Old Republic General Insurance Group.
Source: https://www.reinsurancene.ws/
