Former Lockton broker Polyakov joins Capsicum Re

Capsicum Re announced that Vlad Polyakov has joined its cyber team, responsible for developing new products and building reinsurance capacity in the cyber market. Formerly with Lockton, he will report to Ian Newman, Capsicum Re partner, and is based in London.

Polyakov will also work with the cyber team at Arthur J. Gallagher, bringing insurance solutions to their clients and seeking growth opportunities.

“Capsicum Re is arguably the leading cyber reinsurance broker so I am delighted to be working with them,” said Polyakov. “The cyber market is growing rapidly and with significant updates to EU privacy legislation expected next Autumn demand shows little signs of decreasing. This presents numerous opportunities and we must focus on delivering innovative products that respond to customers’ needs.”

At Lockton, Polyakov served as assistant vice president in the global technology and privacy practice, working with U.S. and European insureds. Before that, he worked in JLT Specialty’s communication, technology and media risk practice as a technology and cyber broker.

Newman commented, “As cyber threats continue to evolve and we become increasingly dependent on technology, there is a growing concern about the protection and security of data. As a result, the cyber insurance market is seeing an unprecedented level of interest from customers but there is insufficient capacity available to meet this increasing demand. Our focus is on building a specialist team and utilizing their insight and expertise to make more capacity available to the market and help our customers take advantage of this growing class.”