Estimated reading time: 5 minutes
Markel Insurance has named Raphael Da Costa to lead its U.S. cyber and technology errors and omissions (E&O) portfolio. The appointment positions Da Costa as the senior underwriting authority for Markel’s cyber and tech E&O business in the United States. He brings more than 15 years of combined experience across cybersecurity and insurance. Da Costa joined Markel in 2023 and built his role from within the firm’s U.S. specialty lines operation.
Another Leadership Move In 2026
This appointment follows Markel’s March 2026 announcement naming Jamie Smith as London Underwriting Manager and U.S. Cyber Lead. Markel now has dedicated cyber underwriting leadership in both New York and London. The two appointments, eight weeks apart, reflect a deliberate carrier strategy. Markel is building geographic depth and underwriting specialization at the same time.
What Da Costa Will Own
Da Costa takes full responsibility for U.S. cyber and tech E&O underwriting strategy, portfolio management, and product development. He will work across underwriting, claims, and actuarial functions. That cross-functional mandate matters in practice. Markel has previously invested in cyber risk analytics to sharpen exactly this kind of underwriting discipline. Carriers that align claims data with underwriting decisions price risk more accurately and respond faster to emerging loss trends. Da Costa’s role puts him at the center of that feedback loop.
Middle Market As The Core Battleground
Before his promotion, Da Costa led the strategic development of cyber liability insurance and tech E&O products for middle market risks. That segment carries significant underwriting complexity. Middle-market firms often operate without enterprise-grade security controls. They face enterprise-scale exposures from ransomware, data breaches, and technology liability claims. Markel has moved to address middle market needs directly, including through its partnership with Upfort on cyber insurance policy products built for that segment. Da Costa’s direct experience gives him a clear view of where losses concentrate.
The Carrier’s Underwriting Philosophy
Paul Melone, Markel’s Executive Underwriting Officer for Professional Liability, framed the move in terms of broker benefit. “Raphael brings deep technical knowledge and strong market experience,” Melone said. Markel promotes internal talent as a deliberate strategy. Da Costa’s rise from a 2023 hire to portfolio lead reflects that philosophy in practice. Carriers that invest in underwriting continuity tend to hold broker relationships through market cycles. Markel has also invested in pre-loss services as part of a broader effort to deepen client relationships before incidents occur.
Da Costa On A Fast-Moving Risk Environment
Da Costa offered his own read on the current landscape. “Cyber and technology risks are changing in real time,” he said. That view matches what underwriters across the specialty market report. Ransomware tactics shift faster than policy language can track. AI-driven attacks scale beyond traditional defenses. Tech E&O exposures expand as software liability and cyber liability increasingly overlap. Markel has already navigated one of the harder coverage boundary questions in the market through its work on cyber insurance war exclusions. Da Costa’s background in product development puts him in a strong position to respond to the next wave.
Cyber Liability Insurance Implications
Leadership appointments at major carriers carry real trading implications. A new portfolio head signals fresh underwriting appetite, revised risk parameters, and a new posture on emerging coverage questions. Da Costa’s focus on middle market product development suggests Markel will sharpen that segment’s pricing and coverage terms. Brokers placing mid-sized accounts should take note. For CFOs and General Counsel evaluating cyber coverage program renewals, carrier leadership stability is a meaningful due diligence factor. Markel’s moves in London and New York, two months apart, reinforce its position as a long-term, committed player in cyber and tech E&O.
FAQ: Markel Appoints Raphael Da Costa To Lead U.S. Cyber And Tech E&O
Raphael Da Costa is a cyber insurance and cybersecurity professional with more than 15 years of industry experience. He joined Markel in 2023 and previously led U.S. cyber and tech E&O product strategy for middle market risks.
Da Costa will oversee underwriting strategy, portfolio management, and product development for Markel’s U.S. cyber and tech E&O book. He will work across underwriting, claims, and actuarial teams.
Technology errors and omissions (E&O) insurance covers financial losses arising from failures in technology products or services. It often overlaps with cyber liability coverage, particularly for software vendors and managed service providers.
A new portfolio lead typically brings updated risk appetite signals and revised underwriting criteria. Brokers placing mid-sized U.S. cyber and tech accounts should engage Da Costa’s team early in the renewal cycle.
Yes. Markel appointed Jamie Smith as U.S. Cyber Lead in London in March 2026. These sequential appointments point to active capacity-building across both the London Market and the U.S. domestic book.
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