Allied World Assurance Company Holdings, AG announced the launch of “a new Global Crisis Management Division, which is comprised of Structured Trade Credit, Political Risk, Multi-Buyer Trade Credit & Product Recall, which will operate under the leadership of Todd Germano, Executive VP – Global Crisis Management Division.”
Allied World explained that the “new division will offer an array of products that provide coverage to help organizations prepare for, manage, and recover from issues and incidents that can threaten many facets of their business, including brand, reputation, finances, and operations.
“These events require highly specialized products, services and vendors to quickly and effectively respond to a crisis. Allied World will be offering specialty coverage that requires targeted knowledge of the exposures, trends and markets in order to adequately manage the risks associated with the line of business.”
Frank D’Orazio, President – Underwriting & Global Risk Group at Allied World, commented: “The customers we serve have increasingly global and complex business models that require a unique understanding of risk and specialized underwriting approach. This division will enable us to have more meaningful relationships with our existing customer base while broadening the reach of our business.”
Germano pointed out that the insurer has “made a significant investment in building this comprehensive crisis management platform which will be led by four industry veterans with extensive expertise in their sectors. The risk landscape is dynamic and continually evolving, and through this new group, we will offer solutions-based underwriting for an optimal level of customization.”
Allied World also gave the following biographical information on the new division’s leadership team:
Todd Germano is Executive VP – Global Crisis Management Division and oversees all components of this business and its product offerings. He previously served as President, Allied World U.S. Property & Casualty.
Bill Mullan is Senior VP and Chief Credit Officer, Global Crisis Management Division. Prior to joining Allied World, he spent many years at AIG with responsibilities spanning across accounting, treasury and risk management functions. Mullan has 17+ years of Trade Credit experience, establishing credit procedures, setting underwriting authorities and ensuring proper systems and controls.
Nick Hedley is Senior VP – Global Crisis Management Division, and runs the Structured Trade Credit and Political Risk business of Allied World. He is based in London and has over 30 years of experience in the credit and political risk markets.
Kent Paisley is Senior VP – Global Crisis Management Division, and leads Allied World’s Multi-Buyer Trade Credit Insurance business. He joined Allied World in 2013 as Canadian Head of Specialty Lines as part of the team charged with establishing the Company’s Canadian branch. Paisley has 28 years of experience in trade credit insurance and banking.
Thomas Mangan is VP – Global Crisis Management Division and manages the Product Recall and Product Contamination offerings on behalf of Allied World. He has been a property casualty underwriter with national carriers for more than 27 years.
Source: Allied World Assurance Company Holdings, AG
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