22 July 2019Analysis

Liberty Specialty Markets appoints chief cyber officer

Liberty Specialty Markets (LSM) has named Jon Rigby as its chief cyber officer, a newly created role for the company.

Rigby has been tasked with developing LSM’s strategy to review, define and deli­­ver what best practice for underwriting cybersecurity looks like. He will also drive LSM’s Cyber Centre of Excellence, connecting insurance and reinsurance underwriting functions led by Matthew Hogg, LSM’s head of cyber insurance, and Ivonne Staisch, its head of cyber reinsurance.

Rigby brings a background in cyber outside the insurance industry, having served for 33 years in the Royal Air Force in cyber, intelligence, IT and engineering roles. Prior to joining LSM he co-led AlixPartners' cybersecurity team, working predominantly with private equity and FTSE 100 executive teams to help them manage their cybersecurity risk.

He reports to Peter Smith, executive underwriting officer, and is based in London.

Peter Smith, executive underwriting officer at Liberty Specialty Markets, said Rigby’s appointment “supports our vision to be a leading global specialty re/insurer for cyber risk in terms of governance, thought leadership and client value solutions across all product lines.”

Rigby said: “Information is a key business enabler and very often the most valuable asset of a business. Even a cursory read of the news shows that the cybersecurity threat to the profitability and value of businesses and the reputation of executives, is an unavoidable aspect of doing business today. Cybersecurity insurance is still immature, and in my experience risk transfer is often overlooked as an effective component of a comprehensive cybersecurity strategy. Liberty is at the cutting edge of recognising this opportunity.”