Sompo taps expert as new US cyber insurance product head

Sompo taps expert as new US cyber insurance product head | Insurance Business America

Sompo taps expert as new US cyber insurance product head

Sompo Pro, the US professional liability insurance unit of Sompo International, has named Richard DePiero as its new senior vice president, cyber product leader.

DePiero bolsters the division with over a decade of cyber underwriting and broking experience. His new role sees him take responsibility for Sompo Pro’s US cyber and network security offerings as he reports directly to Daniel Wadley, executive vice president.

“Rich brings a wealth of knowledge and experience in cyber liability and risk management from both an underwriting and intermediary perspective. His extensive knowledge of cyber coverages and thought leadership complement our specialty resources across a wide array of professional classes. We are pleased to welcome such high-caliber talent to our team,” said Wadley.

DePiero will be based in New York, and will work closely with Brad Gow, global cyber product leader at Sompo International, to further develop Sompo’s cyber products and services.

“Adding Rich to our global team of industry recognized cyber underwriters enhances our capabilities in one of the world’s fastest-growing cyber security markets. I look forward to working with him as we continue to develop our coverage options and mitigation and response services to meet the evolving challenges faced by businesses of all sizes and across all industries,” said Gow.

Before the appointment, DePiero previously worked for Swiss Re Corporate Solutions where he served as senior vice president, head of cyber & technology E&O underwriting, North America. Before that, he was senior vice president and cyber & technology practice leader for Marsh USA.