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Cyber InsurTech At-Bay taps Argo’s McArdle as national broker executive

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Cyber MGA At-Bay has hired Tom McArdle as national broker executive, the company announced.

The executive has more than two decades of underwriting experience under his belt, most recently serving as a senior vice president at Argo Group. Prior to that, McArdle worked as a senior vice president at Axis.

“Deepening our relationship with the wholesale community is a top priority as At-Bay continues to grow,” said Brett Sadoff, At-Bay’s head of insurance. “Tom brings to At-Bay nearly 20 years of experience underwriting specialty lines and cultivating lasting partnerships in the wholesale community.”

McArdle said: “I’m thrilled to join the incredibly talented team at At-Bay, and look forward to helping grow relationships with our wholesale partners.”

“Furthermore, At-Bay’s ability to actively monitor the cyber risk of their insureds is a major advancement over what insurance has traditionally provided, the impact of which is evident in At-Bay’s ability to manage incidents of loss during the current turbulent market,” he added.

The start-up has hired more than a dozen underwriters amidst a rapid geographic expansion in recent months, including Sandy Perdiguerra from Hiscox as West Coast regional manager.

The West Coast cyber MGA At-Bay also raised an additional $20mn for its Series D funding round, bringing the amount raised in the round to $205mn. The funding rounding, co-led by Icon Ventures and Lightspeed Venture Partners, brought the company’s valuation to USD 1.35bn.

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