XL Group’s Cyber and Technology business added three underwriters, Sean Donahue, Elissa Doroff and Richard Schulz, to its New York-based team.
“Headline data breaches continue to spark interest in cyber and technology insurance and this expansion is intended to meet that demand,” according to John Coletti, chief underwriting officer for XL Group’s Cyber and Technology insurance business. “Data breaches are becoming increasingly more sophisticated and in order to properly underwrite these risks, we have added underwriters that possess the necessary technical and legal skills that Sean, Elissa and Rich possess.”
Donahue–a certified ethical hacker–joins XL Group from Dewitt Stern Group where he most recently served as vice president and director of information technology. During his tenure at Dewitt, he oversaw the day-to-day operations of the company’s technology infrastructure which included the company’s information security program.
Doroff brings nearly a decade of cyber and technology insurance expertise having worked as claims counsel at AIG and, most recently, as broker of cyber insurance at Marsh where she held the position of senior advisory specialist. While at Marsh, she counseled public and private clients on their risks and insurance needs in the areas of technology, privacy and cyber.
Schulz joins XL as a vice president from Axis Insurance where he underwrote a broad spectrum of media, technology, privacy and network security risks.
XL Group recently released a new version of their cyber and technology insurance product with broader terms and conditions and enhancements which are include the costs to cover legal and voluntary data breach notification, comprehensive crisis management expenses, loss of business income and the costs to restore data resulting from a cyber-attack and the costs to respond to privacy related regulatory investigation and any fines and penalties assessed.
