Marsh announced that Eleni Petros has been appointed as a Senior Vice President in its Financial and Professional (FINPRO) Practice in London. She specialises in Directors’ and Officers’ (D&O) insurance for the financial and professional services sector and will report to Charles Beresford-Davies, Head of the Financial Services Division within FINPRO.
Petros joins Marsh from Chartis, where she worked for nearly five years as Legal Counsel and Product Manager for Financial Lines. She was previously a Legal Counsel at Royal & Sun Alliance for three years. Before moving to the UK, Ms Petros was a Senior Associate at leading commercial insurance law firm Ebsworth & Ebsworth in Sydney, where she specialised in financial litigation and professional indemnity insurance claims.
Beresford-Davies pointed out that the “significant challenges faced by the banking sector and wider financial services industry over the last two years, compounded by the economic downturn, have only served to highlight the complex D&O risks faced by the sector.
“Heightened regulatory scrutiny, government intervention, a need to rebuild balance sheets and investor disquiet are just some of the issues currently faced by our clients. With her experience in the insurance sector, coupled with her excellent track record as a litigator, Eleni can provide Marsh’s clients with insight in how best to mitigate these risks in the insurance marketplace.”
Petros added that the events of the “past 18 months in particular serve to remind us how vulnerable directors and officers are to allegations of wrongdoing and potential claims. In order to secure the best possible terms for their D&O insurance programmes at renewal, it is crucial that firms develop a well-defined purchasing strategy, highlighting just how well they manage their D&O risks to their insurers and seek the best insurance cover available to them on the market.”