Cincinnati Financial Corp.’s London-based global specialty underwriting subsidiary, Cincinnati Global Underwriting Ltd., will begin writing two new lines of business: contingency and specie.
Contingency insurance covers film and entertainment risks, such as: insuring film and TV production for their props, sets, wardrobe and filming equipment to help ensure productions are completed within budget and delivered on time; and offering event cancellation for tradeshows, conferences, exhibitions, sporting events, theatrical performances, concerts and music festivals.
A Specie portfolio includes coverage for theft or loss of high-value portable property including fine art, jewelry, gold bullion and cash in transit.
Francis Hernandez joined Cincinnati Global as Head of Contingency on November 2. Hernandez began working in the insurance industry in 1988, specializing in Contingency since 1993. He has experience building profitable portfolios of entertainment business as an underwriter and a broker. Hernandez most recently headed Chubb’s successful International Film & Entertainment Division.
Ian Seakens will also be joining Cincinnati Global as Head of Specie in early 2021. He brings with him 35 years of industry experience in specie and specialty lines insurance. Seakens joins from AEGIS London where he worked for the last 10 years as a lead underwriter in the London market.
Until Seakens joins the company, the Specie portfolio will be run by experienced underwriter Charlotte McIntyre, who also recently joined the Cincinnati Global team from AEGIS London.
According to Cincinnati Global Director of Corporate Development Kevin Timmons, the company identified contingency and specie as historically profitable classes of business through which it can grow.
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