Silverman to Head Hiscox Inland Marine Insurance for U.S. Market

February 24, 2009

Hiscox is now offering inland marine insurance to the U.S. market and has hired Steve Silverman to lead this initiative. Hiscox said it will be underwriting both individual risks inland marine risks and programs.

Steve Silverman, vice president, joined Hiscox from American International Group’s Lexington Insurance, where he was most recently assistant vice president and product line manager for Inland Marine and Specialty Property business in the U.S. and Canada. Prior to joining Lexington, Silverman spent most of his career with Aetna Casualty & Surety in a variety of property and inland marine roles.

He is joined by Randi Glazer, assistant vice president, who joins Hiscox from the Fireman’s Fund Insurance Co., where she was the Inland Marine manager for the New York region. During the course of her career Glazer has held property and inland marine underwriting positions with primary and facultative reinsurers including CNA, Chubb, Swiss Re America and the Catlin Group.

Hiscox will be pursuing Inland Marine coverages of all types including but not limited to:

— Motor truck cargo- All types of motor carriers and commodities
— Construction equipment of any type (for example, construction and port cranes, backhoes, loaders, land based energy servicing equipment)
— Property and equipment used in mining operations (for example, processing plants, loading facilities, draglines, long wall and continuous miners, concrete pumping units)
— Vehicle physical damage (for example, tractors and trailers, buses, ambulances, fire trucks, ready-mix units, dump trucks)
— Warehouse legal liability (for example,goods of others in the possession of a warehouse operator or logistics provider)
— Leased property (single or dual interest)
— Miscellaneous property (for example, mobile MRI or CAT scanners, computer equipment, property while being moved or hoisted by the insured)
— Agricultural and construction equipment dealers, automobile dealers (inventory and fixed property only)
* Railroads-freight and passenger (fixed property and rolling stock)

Source: Hiscox

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