David Derigiotis, Director of professional liability and corporate vice president, Burns & Wilcox
Burns & Wilcox
Specialty: Cyber and Data Piracy
David Derigiotis is one of the country’s foremost experts on cyber and privacy liability. As director of the professional liability center of excellence at Burns & Wilcox, Derigiotis leads a diverse team of highly specialized brokers and underwriters. He also serves as the director of R.B. Jones, a specialty MGA focused on recreation, professional liability, general liability and umbrella/excess.
“The digital and privacy exposures that organizations were beginning to face at the onset of my career presented an opportunity for me to focus on emerging business risks and develop expertise not readily accessible within the insurance industry,” Derigiotis says. “Since that time, I have become entrenched in cyber and privacy risks and never looked back.”
Derigiotis believes the most significant challenge in this market – the fact that many organizations underestimate their exposures – also presents the greatest opportunity. “While the US marketplace for cyber insurance represents the largest segment of buyers across the world, it is still underpenetrated,” he says. “To be successful in this niche area, a great deal of education must be provided. This can be time-consuming and labor-intensive, but it is also very rewarding. Clients must demand more than just market access from those they choose to work with.”