Cybercrime costs the world’s economy trillions of dollars a year. Some research projects that figure to reach a staggering $10.5 trillion by 2025. As a result, the demand for robust cybersecurity and insurance solutions is skyrocketing. Recognizing this critical need, Great American Insurance Group announced the appointment of Laura A. True as Divisional Vice President of its Cyber Risk Division.
This move underscores the company’s commitment to providing tailored protection against the ever-evolving threats faced by businesses of all sizes. Previously a Senior Underwriter at a cyber insurance provider, True brings over two decades of experience in middle market underwriting. Her expertise will be focused on leading a specialty underwriting team in Hartford, Connecticut, concentrating on cyber risk and technology errors and omissions (E&O) insurance for small- and medium-sized companies (SMEs).
Experience
Betty Shepherd, Divisional President of Cyber Risk at Great American, expressed confidence in True’s ability to enhance their cyber risk insurance product. She highlighted True’s understanding of the tech E&O market and her strong relationships in the wholesale distribution channel as valuable assets that will bolster the company’s presence in this sector. “Her knowledge of the tech E&O market and strong relationships in the wholesale distribution channel will increase our presence in this space considerably,” said Sheperd.
Great American Insurance Group has a long-standing commitment to delivering tailored cyber risk products and programs, spanning over a decade. In 2018, the Cyber Risk Division was established to consolidate various offerings into a dedicated business unit. It provides specialized solutions for small- and medium-sized enterprises.
Source: Laura A. True Named Divisional Vice President at Great American Insurance Group.
