Torus Executive Risks to Launch Professional Indemnity Platform

Torus Executive Risks Limited (TER), a joint venture between Nexus Underwriting Management and global specialty insurer Torus, has entered the Professional Lines market with the appointment of David Robinson as Professional Indemnity Manager.

He joins TER from Lloyd’s Syndicate 3210 of Mitsui Sumitomo Insurance Group, a professional indemnity insurer. Robinson has more than 20 years of PI experience, most recently Class Underwriter for Professional Liabilities at 3210. He has also worked at DA Constable Syndicate 386 and BP Theakston Syndicate 1101.

Colin Thompson, CEO of TER, described Robinson as a “recognized market leader,” adding that his hiring “marks our entry into the Professional Indemnity Market and complements our stated strategy of attracting the top performers into our respective product areas to provide the products and services our policyholders and brokers need.”

Robinson pointed out that “brokers and policyholders have suffered a significant dislocation in the PI market. TER’s entry counteracts this. There are both short term and longer term opportunities to establishing a strong new direction for the PI market. Leveraging the success to date, Torus Executive Risks’ PI platform aims to be recognized as the market’s new point of reference.”

Torus Executive Risks was launched in April 2010 and focuses on Directors and Officers Liability, Bankers Blanket Bond, Professional Indemnity, Pension Trustee Liability, Employment Practices Liability and Public Offering of Securities Insurance. It offers limits of up to £10 million ($15.4 million) per risk and operates from 70 St Mary Axe in London.

Source: Torus Insurance