Old Republic Expands Its Reach with New Cyber and Technology Insurance Company Launch

Old Republic International Launches Old Republic Cyber, Inc.

In a significant move, Old Republic International Corporation (NYSE: ORI) has officially announced the creation of a new underwriting subsidiary, Old Republic Cyber, Inc. This new entity aims to provide specialized insurance products in the realm of Cyber and Technology Errors and Omissions (EO) insurance. As online security and technology continue to evolve and pose new challenges, the formation of this company appears to be a strategic step to meet the growing demand for focused coverage in these areas.

Leadership and Expertise

Old Republic Cyber will be led by experienced industry professionals CJ Pruzinsky and Kevin McGowan. Pruzinsky, who takes on the role of President, brings with him 18 years of relevant cyber underwriting experience, having previously worked with renowned organizations such as AIG, Beazley, and Resilience. His education background from William Paterson University complements his vast experience in the sector.

Joining him is Executive Vice President and Chief Underwriting Officer, Kevin McGowan. McGowan holds a degree from Miami University and boasts 15 years in cyber underwriting, having also held positions at Ace, Beazley, and most recently, Resilience. The combined expertise of these leaders sets a promising foundation for Old Republic Cyber to innovate in insurance coverage tailored for technology vulnerabilities and potential cyber incidents.

Strategic Growth and Diversification

Craig R. Smiddy, the President and CEO of Old Republic, expressed his enthusiasm regarding this development. He emphasized the importance of expanding the underwriting expertise within Old Republic, aligning the company with its specialty strategy focused on underwriting excellence. Smiddy looks forward to leveraging the extensive knowledge and leadership experience that Pruzinsky and McGowan bring to the team, thereby strengthening the Old Republic brand.

The establishment of Old Republic Cyber, Inc. marks the seventh specialty company launched by Old Republic in the last nine years. This strategic decision not only showcases the company’s commitment to diversification, but also aligns with its efforts to expand into new lines of coverage that are increasingly relevant in today’s technology-driven world. As businesses face more sophisticated cyber risks, the need for comprehensive insurance solutions in this space becomes imperative.

About Old Republic International

Old Republic International Corporation, based in Chicago, is recognized as one of the largest shareholder-owned insurance businesses in the United States. It ranks among the top 50 and is a proud member of the Fortune 500. The company operates as an insurance holding company with subsidiaries that actively market, underwrite, and provide risk management services across various coverage types, primarily in the general and title insurance sectors. Notably, Old Republic’s general insurance business is also among the nation’s top 50, while its title insurance division stands as the third largest in the industry.

As the demand for specialized insurance products continues to grow, Old Republic Cyber, Inc. is well-positioned to make a significant impact in the market. The alignment of expertise and resources signifies a strong capability to respond to the evolving needs of businesses dealing with technology and cyber-related risks.

For more details or inquiries regarding Old Republic’s latest developments, visit their official website at www.oldrepublic.com.