When head of cyber and TMT, international financial lines, at AXA XL, James Tuplin moved into technology PI in 2006, it was a very niche class and there were only a small number of underwriters in London who wrote PI specifically for technology companies around the world.
At that time, he said, a lot of cyber covers were built and designed in technology PI cover as the underwriting between the two risks had strong similarities. Indeed looking at the current cyber market, Tuplin noted that a large proportion of the senior leaders within the sector today are ex-technology PI underwriters like himself.
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