Page 21 - Insurance Times October 2020

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AXA XL appoints Jonathan extremely well received by clients and cyber risk. Given this, the need for
Salter as Head of Risk Con- now form a key part of our product cyber insurance has arguably never
suite.”
been higher. Traditionally, cyber insur-
sulting Mr. Salter has more than 20 years of ance has seen greater levels of uptake
AXA XL announced that Jonathan experience in risk consulting. He joined and interest among mid-market and
Salter has been ap- XL Catlin in 2016 as Head of Property larger corporations, but the pandemic
pointed as Head of Risk Engineering. Prior to that, he has accelerated the need for smaller
Risk Consulting, ef- helped establish and led RSA’s multi- business to purchase cover as well. “
fective October line risk engineering capabilities and Among SMEs operating in industries
1st. In this role, he co-founded Elciem Ltd, a private prop- such as healthcare, manufacturing,
will drive AXA XL erty risk engineering firm. real estate and education – which have
Risk Consulting’s been reported as being under greater
strategy and value Cyber-attacks threaten threat - GlobalData research indicates
proposition globally, working closely middle-market businesses, that cyber insurance uptake is lowest
with AXA XL’s underwriting and claims within the health and social work sec-
teams. providing opportunity for tor, with 25.9% holding cyber insur-
Mr. Salter is currently Deputy CEO of insurers ance coverage.
AXA XL Risk Consulting, a role that he Despite a series of high-profile cyber Pearce adds: “The health and social
has held since 2018. He succeeds security cases in recent years, the up- work sector will arguably have been
Corinne Vitrac, who has moved to AXA take of cyber insurance among small- one of the most directly and heavily
Group as Head of Group P&C Risk medium enterprises (SME) remains low impacted by the spread of COVID-19,
Management. at just 12.7%, according to Global and having had to respond directly to
Nancy Bewlay, Global Chief Underwrit- Data’s 2020 UK SME Insurance Survey. COVID-19’s effects on the population,
ing Officer at AXA XL, said: “As the Insurers should target middle-market the increased cyber threats it faces
COVID-19 crisis continues to challenge companies who at the most risk, ac- adds further concern.
the way companies operate, loss pre- cording to GlobalData. “The insurance industry should use this
vention has never been more impor- GlobalData senior analyst, Daniel as an opportunity to engage with the
tant. Jonathan’s extensive experience, Pearce, commented: “The pandemic SME market in particular, as larger
innovative approach and proven track has increased businesses’ reliance on corporations will typically have cyber
record position him ideally to lead AXA technology in order to operate during insurance in place. The impact that a
XL Risk Consulting, which has, since lockdowns, while social distancing cyberattack could have on a business
March, been offering remote services, guidelines continue to promote home of this size could be debilitating due to
including site analysis. Our remote, working. With this growing dependence financial losses, and, given the reliance
tech-enabled capabilities have been on technology comes an increase in on technology during the COVID-19
The Insurance Times, October 2020