By James Thaler

April 2 - (The Insurer) - K2 Insurance Services has launched its new cyber offering, K2 Cyber, led by former CyberPolicy, Beazley and Liberty Mutual executives Keith Moore, Meghan Hannes and Ray Lynch for a new venture that will target small to medium-sized business insureds.

The Insurer originally broke the news over a year ago that the Bob Kimmel-led MGA platform had brought aboard Moore, Hannes, and Lynch to begin work on the new business.

A spokesperson for K2 confirmed the cyber launch and said that it would offer “continuous risk engineering, cutting-edge prevention and mitigation tools, and robust cyber education."

‘K2 Cyber’s Intelligent Cyber Insurance is an advanced, data-driven approach to cyber risk protection that leverages AI, behavioral analytics, real-time threat intelligence, SaaS integrations, and automated risk assessments to provide tailored and proactive cyber coverage for businesses and individuals,” the company said in a statement.

“It moves beyond static (point-in-time) policies by incorporating continuous monitoring, dynamic underwriting, and adaptive coverage that evolves with emerging threats transforming passive financial risk transfer into active risk prevention and resilience, ensuring both businesses and individuals stay ahead of evolving cyber threats,” it added.

K2 Cyber founder Moore is the former CEO and founder of CyberPolicy and former CEO of CoverHound, which were both acquired by Brown and Brown in 2020.

He originally joined K2 as its chief technology officer in June 2023.

Hannes joined K2 from Beazley in January 2024, where she had been head of U.S. underwriting management for cyber. Hannes previously worked at Hiscox USA, Axis, The Hartford and Chubb. She serves as the new MGA’s chief underwriting and claims officer.

Lynch joined K2 Cyber as president and chief operating officer in December 2023 after spending three years with small business insurtech Coterie and seven years at Liberty Mutual, where he last served as business insurance vertical lead.

A spokesperson for K2 Cyber said the new venture brings together “unmatched expertise in SMB Cyber Insurance, cybersecurity and technology."

“K2 Cyber isn’t just a company – it’s a promise of innovation and excellence in cyber risk management,” Moore said in a statement.

“Our team’s successful history in SMB cyber liability insurance and credible industry partnerships allow us to deliver fast, accurate and reliable solutions,” he added.

“By focusing on real-time, continuous assessments and seamless digital workflows, we ensure that agents and their clients can confidently navigate today’s intricate cybersecurity challenges,” Moore continued.

A spokesperson for K2 said the new MGA is ready to appoint small-to-medium sized business brokers to begin writing business.

Bob Kimmel, K2’s co-founder and CEO, also commented on the launch.

“We are thrilled about the launch of K2 Cyber, our first division focused exclusively on Cyber Insurance,” Kimmel said in a statement.

“The founding team at K2 Cyber brings a wealth of experience and a strong track record in Cyber Insurance and small business products,” he added.

“Their expertise uniquely positions them to meet the intricate needs of SMBs facing today’s cyber risks, and I’m looking forward to watching them succeed,” Kimmel concluded.

The new venture is the latest in a flurry of new program launches by the Kimmel-led K2.

In July 2024, Program Manager was the first to reportthat K2 recruited a trio of builders risk underwriters from Intact Specialty Solutions led by former Highland executive Kaileigh Bowe.

That came after K2 set up the de novo London market MGA Rubicon Specialty with a former Ascot team that includes Gavin Wall, Parth Patel, Chris McGill and Matt Eve to write marine, U.S. property and other lines.

Last year S&P Global Ratings reported that K2 generated total net revenue of around $237 million and gross premiums written of some $1.6 billion in the 12 months to June 30, 2024, with the Kimmel-led MGA platform’s adjusted Ebitda for the period totaling $83 million.