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The hire comes as Miller continues to expand its UK team under the leadership of Tim Norman. -
AIG’s head of commercial D&O in the UK, Christopher Magee, is leaving the business to take up a role with Starr in the US, Insurance Insider can reveal.
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The binder will offer £5mn in primary capacity for companies in technology, media and marketing.
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WTW’s survey cites regulatory risk, health and safety precautions and bribery and corruption on the list of top D&O risks.
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The MGA provides coverage to SMEs in the food, hospitality, leisure and hotel sectors.
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Prior to joining BHSI in 2020, Ben Ruddlesdin worked as an underwriter for The Hartford.
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A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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The longstanding Chaucer underwriter left when the carrier exited the FI market last year.
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The demise of the lender underlines concerns about global economic conditions and high interest rates.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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D&O underwriters, as well as financial institution insurers supporting startups and venture capitalists, could have faced “financial distress” without government intervention.
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Costs of defending and settling lawsuits are likely to fall on the bank’s D&O insurers.
