AXA XL appoints new global chief underwriting officer for cyber

Re/insurer AXA XL has named Elizabeth W. Benet to the newly created role of global chief underwriting officer, cyber.

Benet joins AXA XL from her own consulting business where she assisted insurance company clients in the development and implementation of new insurance products and consultation on the set up of underwriting and claims systems and feedback on reinsurance purchasing.

Her insurance career also includes positions with Beazley, General Reinsurance and Zurich.

Benet will report to Nancy Bewlay, chief underwriting officer, long tail risk, who said: “Cyber threats grow more sophisticated, malicious, and hard to detect every day. To help address these threats, AXA XL has innovated to bring cyber insurance solutions to businesses of all sizes and industries, becoming a market leader in the cyber risk market.

"In her new role with us, Libby will help us closely monitor cyber risk portfolio and exposure from an aggregated global product view. Libby’s experience and insight will be instrumental as we continue to grow AXA XL’s cyber business wisely and profitably and develop the cyber insurance products and services that can help our clients protect their digital assets and their own profitability. We’ll look to her to help us implement strong underwriting standards globally, manage our aggregated cyber exposure, and drive more innovation.”