To better manage its cyber risk portfolio, AXA XL has created the role of global chief underwriting officer for cyber, appointing Elizabeth Benet to the position.
Benet will report to AXA XL long tail risk chief underwriting officer Nancy Bewlay as part of her new role.
Benet joins AXA XL from her own consulting business – in that position, she assisted insurance company clients in the development and implementation of new insurance products, as well as serving as a consultant on the set up of underwriting and claims systems and feedback on reinsurance purchasing.
Prior to forming her own consulting business, Benet held several positions in insurance, serving companies such as Beazley, General Reinsurance and Zurich. She is a member of the Maryland State Bar and has the Certified Information Privacy Professional (CIPP US) and Certified Information Privacy Manager (CIPM) designations.
“To continue our momentum in the cyber market, we must continuously monitor our complete book of business, market developments and business opportunities and that’s why we’re excited to welcome Libby to our global insurance leadership team,” Bewlay said in a statement.
Bewlay added that Benet’s experience and insight will be instrumental to AXA XL as it continues to grow its cyber business.
“We’ll look to her to help us implement strong underwriting standards globally, manage our aggregated cyber exposure, and drive more innovation,” Bewlay said.