24 NEWS
What’s New?
Dual in D&O link-up with Newline
Specialist underwriting agency Dual Corporate Risks has created a strategic alliance with Newline Syndicate 1218 at Lloyds.
Syndicate 1218 will provide Dual with £10 million of excess capacity. This is in addition to the £10 million programme that Dual has with Arch Europe. This deal will enable DUAL to have £20 million of capacity on any chosen directors’ and offi cers’ (D&O) risk.
Russell Kilpatrick, executive chairman of Dual Corporate Risks said: “This additional capacity furthers our dominance of the mid-market sector and allows our brokers the opportunity to sell more of our quality products. This will provide us with a much broader opportunity to exploit our profi table underwriting model.”
Phil Foley, active underwriter at Newline Syndicate 1218 said “We are impressed with Dual’s management, people and products. They have a great reputation in the mid-market segment and we look forward to a long and profi table relationship.”
In order to drive both the Newline and Arch programmes Dual have made four new appointments: Jeremy Isaacs, D&O underwriting manager, who joins from Axis, James Gill, D&O underwriter, who also joins from Axis, Oliver Leonard, D&O underwriter, who joins from Howden and Rob Brooke, assistant underwriter, who joins from HSBC.
Mr Kilpatrick added: “The team will focus on product development, technology and transactional effi ciencies in order to drive profi table premium growth and continue our quality service offering.”
Insurance Brokers’ Monthly July/August 2010
upgrades broker travel policies
Aviva
Aviva’s travel cover for UK airspace closure is now available through the broker channel.
The optional add-on will be offered on Aviva’s stand alone annual multi trip travel policy for any new business. For existing annual multi trip travel policy customers, they may choose to add this to their existing cover until 27 August or may upgrade at their next renewal.
Customers of Distinct Travel, part of Aviva’s high net worth product suite, will have the new cover applied automatically to their existing policy with effect from 12 July 2010.
Jerry Finch, travel manager, at Aviva said: “We appreciate the need to provide protection for additional risks that have not been previously covered by insurance. So we have broadened our insurance cover beyond the impact of volcanic ash on fl ights to include any reason for airspace, port or airport closure. This would include examples such as: terrorism, prevention of terrorism or even a pandemic situation, such as bird fl u.
“This should help customers feel more confi dent of their position as they look either to go on holiday soon or plan to book later in the year.”
The add on cover includes: Cancellation: Provides cover if, on the day the insured is due to depart from the UK is prevented from taking the trip and unavoidably have to cancel as a result of the following:
A. Airspace being closed for more than 24 hours from the date and time of the scheduled departure, as shown on the ticket/itinerary
B. An airport or port the insured is scheduled to travel from or through being closed for more than 24 hours from the date and time of your scheduled departure as shown on your ticket/itinerary
Enforced stay: Provides cover if the insured is unable to return home to the UK on the scheduled return date because the airspace is closed or an airport or port that they are rescheduled to travel from or through is closed (and if they have purchased the ticket before the airport was closed).
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