Chubb has named Bill Stewart as the man to lead its stand-alone global cyber-risk practice.

He will lead the development and implementation of Chubb’s strategy to deliver the next generation full suite of property and casualty cyber insurance offerings, worldwide.

The company said its global cyber practice will deliver Chubb’s risk transfer, loss mitigation and incident response services for the rapidly evolving threats faced by businesses of all sizes and individuals.

Mr Stewart has been appointed division president of Chubb’s Global Cyber Risk practice. Based in New York, he will also collaborate with David Cowart, Chubb’s chief information security officer and the Enterprise Risk Management team, in developing cybersecurity best practices for the company.

John Lupica, vice-chairman, Chubb Group, said: “The number and complexity of cyber exposures have grown exponentially over the last few years.

“The decision to make our cyber-risk practice a stand-alone business under a forward-thinking leader like Bill adds another level of depth and thought leadership to Chubb’s offerings in this segment.

“His extensive knowledge of global cyber-risks, coupled with his background and experience in providing cyber counsel to organisations across different industries, will complement the underwriting, servicing, claims-handling capabilities and enterprise risk management that distinguish Chubb in the market.”

Mr Stewart was previously executive vice-president at Washington DC-based Booz Allen Hamilton, where he was responsible for commercial cyber business.