Sompo taps Barbican talent as London market cyber head

Bermuda-based property and casualty re/insurer Sompo International has hired Lauren Folkard as vice president and head of cyber for the London Market.

Folkard was most recently a cyber class underwriter at Barbican, and previously part of the cyber management team at Chubb.

In her new role at Sompo, she will be based out of the firm’s London office.

Julian James, chief executive officer, international insurance at Sompo International, said: “We are delighted to welcome Lauren to Sompo International. This is an exciting development as part of our long-term commitment to this class of business and it supplements our global cyber capabilities. While clients already face a wide range of cyber exposures, they have become more acute during the Coronavirus pandemic. In this environment, data breaches are more likely, and companies will be at increased risk. Our ambition is to work with our clients and broker partners to deliver the solutions they need to navigate the changing risk environment.”

Folkard added: “I look forward to building upon Sompo International’s expertise within the cyber class and to deepening and extending relationships with brokers and insureds and I am thrilled to join an organisation with substantial financial strength and solid underwriting appetite. I believe that Sompo International is well-positioned to address today’s cyber market challenges including malware, phishing and social engineering threats which are all rising as criminals seek to exploit weaknesses of staff working remotely without access to their usual network of advice and support.”