USQRisk, an international managing general agent specialising in alternative risk transfer solutions, has introduced a new managing general agent (MGA) called Pera.
Pera is set to provide cyber insurance and blended cyber and technology Errors & Omissions (E&O) insurance to large corporate risks domiciled in the United States.
This marks the first program launched by Desq, USQRisk’s MGA accelerator/incubator, with Pera operating as a division of Desq.
Jeffrey Batt, a seasoned expert with a background in national security and cybersecurity, has been appointed as Pera’s Chief Underwriting Officer and Head of Cyber.
Batt brings a wealth of experience from previous roles at M&T Bank, AmTrust Financial Services, Trium Cyber U.S. Services, Marsh, and the U.S. Department of Defense. His extensive knowledge and leadership in the field of cybersecurity position Pera to excel in delivering new cyber insurance products and solutions to the market.
Pera’s primary objective is to develop insurance products tailored for the U.S. market in collaboration with Chaucer Group, an international specialty insurance and reinsurance group based in London.
Chaucer Group possesses substantial underwriting expertise in the field of cyber-related risks. While Pera’s offerings are designed to cater to a wide range of cyber risks, Batt emphasised that the company will prioritise entities with robust security measures in place.
Piers Tuggey, Head of Cyber at Chaucer Group, expressed enthusiasm about the launch of Pera, emphasising its significance in an environment where cyber risks are growing increasingly complex and the demand for specialised solutions is on the rise. The combination of Chaucer’s expertise, Pera’s underwriting capabilities, A-rated capacity, and USQRisk’s distribution network collectively offers an appealing proposition to the cyber insurance market.
