Specialist insurer Hiscox has established a new product recall team within its London Market business with four new hires.
Heading up the team is David Burke, who comes to Hiscox from Catlin after almost 30 years in the insurance industry where he has focused on writing niche specialty lines. Having also worked at Sedgwick, ACE and Marsh, David has a wealth of experience of managing a global client base and growing a specialty product line. He is joined by product recall underwriters Ian Bailey, Andrew Kyle and John Naughton, also previously at Catlin.
David Slevin, divisional head of Specialty within Hiscox London Market, explained: “Establishing a product recall offering within Hiscox London Market is an exciting step for us. Product recall is a huge area and the team will focus on a range of recall risks across industries including food and drink, automotive, restaurants, pharmaceutical and consumer durables. It’s great to have David, Ian, Andrew and John on board; their expertise in this area will really differentiate us.”
The team will initially focus on offering automotive component recall and food and drink product recall cover. The scope of coverage ranges from recall costs and crisis consultancy to product replacement/reinstallation, business interruption, brand rehabilitation and third party financial loss.
David Burke said: “Clients will benefit from a market leading capacity of $50 million, a 24/7 response consultancy service and the reassurance that comes with having a product that provides real balance sheet protection as well as brand reputation cover, should the worst happen.”
Was this article valuable?
Here are more articles you may enjoy.