AmTrust builds cyber insurance team under Munich Re hire

Property/casualty insurance group AmTrust Financial Services has said it is currently active in the large risk cyber insurance market and developing cyber risk solutions for a wide range of small businesses, which will be launched later this year.

The company has hired two new executives, Jeffrey Batt and Michelle Ingrassia, to join its cyber insurance team headed by Aaron Basilius, senior vice president of cyber.

Basilius joined AmTrust in July 2020 from Munich Re where he was head of cyber, North America for its large risk corporate division. Prior to that, he served as managing counsel for Beazley’s cyber & tech division from 2010-2018.

Batt joins AmTrust from M&T Bank where he was the cyber insurance practice leader. Previously, he was vice president in Marsh's cyber practice.

In his new role as vice president, head of cyber strategy & innovation at AmTrust, Batt will be responsible for AmTrust’s engagement with its customers and business partners and creating risk solutions.

Ingrassia joins after seven years with Beazley where she was most recently an attorney for its cyber & tech division. Earlier, she was with The Falcigno Group (now TFG Insurance Specialties) in Connecticut.

As vice president, cyber product & underwriting management at AmTrust, she will oversee AmTrust’s cyber insurance offerings.

Basilius said: “In the last year, with cyberattacks and data breaches on the rise, we have seen the demand for cyber insurance grow dramatically, especially in AmTrust’s core small business market. We are delighted that Jeffrey and Michelle have joined our growing team as we build out AmTrust’s cyber insurance offerings.”

He added: “Our team draws on many years of broad practical experience in the dynamic global cyber insurance market. As cyber risk increasingly affects businesses of all types and sizes, we expect our group and practice to become an important new growth area for AmTrust.”

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