D&O (Directors and Officers)
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The law firm said underinsurance was common in the sector, despite rising risks.
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Insider Hannah Tindal will move from Chicago to London to take the role of D&O head within the London regional unit and Nordic team.
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Conditions remain favourable for underwriters but uncertainty remains on whether the recession will lead to a flood of claims. -
The appointments follow Axa XL’s exit from management liability business in London last year.
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The start-up makes its first appointment directly from Hiscox, where Inigo founder Richard Watson worked as CUO.
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The management liability market underwent huge hardening last year as major carriers withdrew.
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The appointment confirms the carrier’s prospective involvement in the rapidly hardening market.
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The return to the office and perceived slow business recovery could also lead to claims.
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Soaring rates in the D&O market have prompted a string of underwriting people moves in London.
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The insurer has a strategy of becoming a leading management liability insurer in the UK.
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The new capacity will be welcomed by brokers and clients as conditions continue to harden.
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Watford is liable for a $18.6mn fee if the Arch deal is terminated.
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