AXA XL delves into how the global cyber market has developed

When head of cyber and TMT, international financial lines, at AXA XL, James Tuplin moved into technology PI in 2006, it was a very niche class and there were only a small number of underwriters in London who wrote PI specifically for technology companies around the world. At that time, he said, a lot of cyber covers were built and designed in technology PI cover as the underwriting between the two risks had strong similarities. Indeed looking at the current cyber market, Tuplin noted that a large proportion of the senior leaders within the sector today are ex-technology PI underwriters like himself. When Tuplin joined AXA XL three years ago, the business did not have an international cyber practice, he said, and his role was to build this new division by implementing a new P&L, a new strategy, new guidelines, new ratings, new wordings, new claims handlings and a new team. The division is now well-established with operations in 15 countries, and Tuplin outlined how his global portfolio has given him a clear view of how the cyber insurance sector has developed internationally in recent years.