Lloyd’s of London’s Franchise Performance Director, Rolf Tolle, announced that Jeremy Pinchin, previously Special Counsel for September 11th claims, will head a newly created department of Reinsurance and Claims.
The new position aims to “improve the co-ordination of claims and reinsurance within the Lloyd’s Market,” said the announcement. Pinchin’s role “will include responsibility for Lloyd’s oversight of the market’s inwards claims and outwards reinsurance and the Lloyd’s run-off project.”
Pinchin indicated that “In the last two years the market has made considerable progress in its management of Lloyd’s largest single loss; this has led to the efficient settlement of valid claims and has significantly enhanced Lloyd’s reputation.
“My new role as Head, Reinsurance and Claims is a natural extension of my current role to the broader market and will incorporate many of the key elements of my present position as well as some added responsibilities,” he continued. “I am looking forward to working with Rolf and his team, as well as with colleagues in the market to implement the new franchise claims management programme.”
Tolle indicated that he was “delighted to have appointed Jeremy to the team. He brings valuable experience and knowledge from both his previous career and his team’s successful management of the September 11th project. This is another step in our drive to improve the performance of the market. The Franchise Performance Directorate is pushing ahead and excellent progress has been made to date.”
Robert Childs, Chairman of the Lloyd’s Market Association, pointed out that, “The Office for September 11th, established jointly by the LMA and Lloyd’s, has proved a great success in co-ordinating the market’s response to the terrible tragedy in 2001. To date, Lloyd’s has paid over $3.5 billion in September 11th related claims. Jeremy and his team have worked hard to ensure the success of the Office for September 11th, and we welcome the move to extend his role to the broader arena of inwards and outwards claims across the market. We look forward to him working with the market in ensuring that Lloyd’s reputation for the speedy and efficient settlement of valid claims is continued.”
The announcement noted that “Pinchin, 48, was a main board director of Sedgwick Group plc until its sale to Marsh & McLennan, operating in a number of roles including General Counsel and Chairman of the Asia Pacific Region. He was previously Special Counsel for September 11th, leading the team responsible for co-ordinating the Lloyd’s market’s response to the September 11th losses.”
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