Bermudian property and casualty (P&C) re/insurer Sompo International Holdings Ltd. has appointed Richard DePiero as Senior Vice President, U.S Cyber Product Leader for Sompo Pro, the company’s U.S professional liability insurance unit.
DePiero joins Sompo from Swiss Re Corporate Solutions, where he served as Senior Vice President, Head of Cyber & Technology E&O Underwriting, North America and was responsible for developing the company’s cyber and professional liability strategy.
He has more than a decade of cyber underwriting and broking experience, and has previously served as Senior Vice President and Cyber & Technology Practice Leader for Marsh USA, Inc., and started his career in claims and distribution at Electric Insurance Company, a G.E. subsidiary.
In his new role, DePiero will be responsible for Sompo Pro’s U.S cyber and network security offerings, which includes a broad array of coverages that address network security and privacy risks on a standalone basis and in conjunction with professional liability coverage, Sompo said.
DePiero is based in Sompo’s New York office and will report to Daniel Wadley, Executive Vice President, Sompo Pro, in addition to working closely with Brad Gow, Global Cyber Product Leader at Sompo International.
Wadley commented: “Rich brings a wealth of knowledge and experience in cyber liability and risk management from both an underwriting and intermediary perspective. His extensive knowledge of cyber coverages and thought leadership complement our specialty resources across a wide array of professional classes. We are pleased to welcome such high-caliber talent to our team.”
Gow also stated: “Adding Rich to our global team of industry recognized cyber underwriters enhances our capabilities in one of the world’s fastest-growing cyber security markets.
“I look forward to working with him as we continue to develop our coverage options and mitigation and response services to meet the evolving challenges faced by businesses of all sizes and across all industries.”