Pierson Ferdinand Hires Cyber Specialist Panensky from Marsh

Article by: James Thaler

According to sources, New York-based Panensky is starting in his new role with the law firm this week.

He had been with Marsh since 2021, serving as senior vice president, Northeast zone regional manager for its cyber practice.

Before Marsh, he held various cyber and E&O roles at WTW for three years. Earlier in his career, Panensky spent five years in various cyber-related roles at Ironshore Insurance.

A spokesperson for Pierson Ferdinand confirmed Panensky's appointment in a statement to this publication.

“Howard adds to our bench with talents not only in commercial litigation and cyber, but having the unique experience of previously working both in large law firms, a major insurer, and at a major primary and reinsurance broker,” Joel Ferdinand, co-chairman of the firm, said in a statement.

“His knowledge of the insurance industry, policy drafting, coverage issues, and litigation make Howard a strong addition to our team, and we are so excited he has joined PierFerd,” Ferdinand added.

Panensky also commented on his appointment.

“I am ecstatic to join PierFerd, to work with Joel again (with whom I worked at Fox Rothschild and while at Ironshore), and look forward to a bright future with PierFerd and its amazing team,” Panensky said.

The Insurer broke the news in December that Pierson Ferdinand had signed up at least 120 legal professionals - largely from predecessor firm FisherBroyles - for its launch.

Among the well-known cyber-focused lawyers to join the start-up are Stu Panensky- Howard Panensky's brother - and Rich Reiter, both founding partners within Pierson Ferdinand's cybersecurity practice.

Stu Panensky spoke to The Insurer TV last month from the NetDiligence Cyber Risk Summit in Miami Beach, where he discussed the new firm's launch and the freedom it affords its legal professionals.

Cybersecurity-focused lawyers play a critical role in working with breach victims and insureds to manage cybersecurity practices prior to breach incidents, in addition to performing detailed, comprehensive forensic analysis in the immediate aftermath of breaches.

As such, cybersecurity lawyers are heavily involved in cyber claims and incident response.

The law firm monitors claims for excess insurers on cyber insurance towers, drafts cyber insurance policies and endorsements, provides analysis of existing ISO cyber forms, and offers high-level counselling of companies regarding available coverages.

The topic areas that Pierson Ferdinand's cyber practice handles include digital forensics, individual notifications, government/regulatory notifications, PCI investigations, state and federal regulatory investigations, third-party liability, digital/cyber extortion, and business interruption.

The firm describes itself as “technology-driven” and handles various business and legal affairs, including corporate litigation and intellectual property services. Its ambition is to “maximise” client experience.

Marsh declined to comment.

“Start-up law firm Pierson Ferdinand hires cyber specialist Panensky from Marsh,” Cyber Risk Insurer (March 18, 2024) (subscription required)