Rokstone Taps Debbie Hobbs to Lead New Cyber Insurance Unit Targeting Evolving Cyber Threats
Rokstone, a leading international specialty re/insurance managing general agent (MGA), is making a significant move to bolster its cyber insurance capabilities. The firm has announced the launch of a dedicated cyber division and the appointment of Debbie Hobbs, a seasoned expert in the field, to spearhead this new venture. This strategic expansion reflects Rokstone’s commitment to addressing the rapidly evolving landscape of cyber threats and providing innovative solutions for its clients.
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Debbie Hobbs: A Cyber Insurance Veteran at the Helm
Debbie Hobbs brings a wealth of experience to Rokstone, boasting two decades of expertise spanning legal, claims, and underwriting roles within the cyber insurance sector. Her impressive background includes qualifications as a lawyer and tenures at prominent firms such as DWF and Clyde & Co. Notably, Hobbs has also held leadership positions, including Head of Cyber Tech & Media at Miller and London Practice Cyber & Technology Lead at Ryan Specialty Group’s Emerging Risk, where she managed global large and complex cyber risks. Her deep understanding of the complexities of cyber risk makes her an ideal choice to lead Rokstone’s new division.
Hobbs will officially join Rokstone in 2026, following the completion of her notice period. Her appointment signals Rokstone’s dedication to building a team of highly skilled professionals capable of navigating the challenges of the modern cyber insurance market. Her proven track record in managing complex cyber risks and developing innovative solutions will be invaluable as Rokstone seeks to establish itself as a leader in this rapidly growing sector.
Rokstone’s Cyber Division: Addressing Traditional and Emerging Risks
Rokstone’s new cyber division will focus on providing configurable cyber insurance solutions designed to address both traditional cyber exposures and emerging risks. This includes threats linked to artificial intelligence (AI), the increasing interconnectivity of supply chains, and vulnerabilities in operational technology (OT) systems. The division’s approach will be tailored to meet the specific needs of businesses operating in a complex and constantly changing digital environment.
The emphasis on emerging risks, such as those associated with AI, highlights Rokstone’s forward-thinking approach. As AI becomes more integrated into business operations, it also presents new avenues for cyberattacks. Similarly, the increasing complexity of supply chains creates opportunities for malicious actors to exploit vulnerabilities. By focusing on these evolving threats, Rokstone aims to provide its clients with comprehensive coverage that addresses the full spectrum of cyber risks.
The Growing Cyber Insurance Market and Regulatory Pressures
Rokstone’s expansion into cyber insurance aligns with a period of significant growth in the global market. Industry forecasts project that cyber insurance premiums will increase from $15.1 billion in 2024 to an impressive $27 billion by 2030. While the United States currently dominates the market, accounting for approximately 70% of global cyber premiums, growth in the US has slowed, and Europe has emerged as a key driver of expansion, recording a 22% compound annual growth rate over the past three years. Asia is also anticipated to play an increasingly prominent role in the market’s future development.
The burgeoning cyber insurance market is also facing increasing regulatory scrutiny. Regulatory bodies in both Europe and the US are implementing stricter requirements for capital modelling and scenario testing related to extreme cyber events. This regulatory push is prompting insurers to refine their risk assessment and stress testing methodologies, influencing how they approach growth and manage exposure in an evolving risk landscape. Insurers are focusing on systemic risk and capacity allocation, reflecting the growing understanding of the potential for large-scale cyber incidents to impact multiple organizations simultaneously.
Ian Anson, Global CEO of Rokstone, emphasized the importance of this strategic move, stating, “Cyber risk is now foundational to every modern insurance program. Establishing a focused Cyber underwriting capability gives Rokstone specialist expertise, enhanced market credibility and a platform to build innovative solutions for our brokers and insureds.” This statement underscores Rokstone’s commitment to providing its clients with the specialized expertise and tailored solutions they need to effectively manage cyber risks.
Conclusion
Rokstone’s launch of a dedicated cyber division, led by the experienced Debbie Hobbs, represents a significant step forward in the company’s commitment to addressing the evolving challenges of the cyber insurance market. By focusing on both traditional and emerging cyber threats and providing configurable solutions, Rokstone is well-positioned to meet the growing demand for comprehensive cyber coverage. As the cyber insurance market continues to expand and face increasing regulatory scrutiny, Rokstone’s strategic investment in expertise and innovation will be crucial to its success in this dynamic and critical sector.
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