Christopher O'Connor has been named head of professional liability and cyber, North America at American International Group (AIG). The promotion is an internal one. O'Connor fills a role previously held by James Hebert, who left the company recently. O'Connor brings financial lines and corporate accounts experience to two segments where brokers face some of the market's most complex placement decisions.
O'Connor most recently led corporate accounts for AIG's professional liability and cyber insurance across North America. Prior to that, he oversaw the company's financial institution cyber business. In that role, he worked with the carrier's largest financial institution clients on complex risk programs.
Justin Gilmore, head of financial lines, North America at AIG, announced the appointment on LinkedIn. "Chris has built his career at AIG through a series of underwriting and leadership roles," Gilmore said. Gilmore described O'Connor as someone with deep expertise across the professional liability and cyber business and a strong understanding of complex client needs.
O'Connor joined AIG in November 2010 as an underwriting analyst. His 15-year tenure has spanned underwriting and leadership roles across financial lines, corporate accounts, and financial institution cyber. He holds a Master of Professional Studies in Insurance Management and a Bachelor of Science in Economics, both from Columbia University. He has also served as a guest lecturer in cyber insurance at the university.
Both cyber and professional liability are navigating pressured conditions. On cyber, Gallagher's 2026 Cyber Insurance Market Outlook found that overall cyber pricing has retreated to early-2021 levels, driven by carrier competition and capacity growth. Claims complexity, however, has deepened. The US House Committee on Homeland Security reported that the average cost of a US data breach reached $10 million in 2025. Brokers placing cyber risks are navigating a market where AI-driven threats are reshaping how coverage limits and policy wording are assessed.
On the professional liability side, the directors and officers (D&O) market has recorded four consecutive years of premium decline. Direct premiums fell from nearly $15 billion in 2021 to just over $10 billion in 2025, according to AM Best. The rating agency warned in a June 2026 report that underwriting margins are under increasing pressure as the competitive environment shows structural cracks.
