Product recall
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The mean nuclear verdict for 2013-2022 was $89mn, versus $76mn in 2010-2019. -
The carrier also confirmed the appointment of Ian Davidson as senior underwriter.
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Axa XL’s product recall team was depleted after two senior underwriters resigned in January.
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Both Schlesinger and Sandford will report to Matt Humphries, head of crisis management.
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The appointment follows the resignations of Shaun Russ and Ian Davidson.
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Jack Broadbent left WTW to join CFC in June 2023.
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The resignations will see Russ and Davidson reunited with fellow Axa XL alumnus Mark Hutton, who joined Tokio Marine HCC as head of crisis management last year.
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Ellen White, underwriter on the product recall team, is due to succeed Michael Crabtree following his departure.
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Natasha Catchpole previously headed up the product recall team at CFC.
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Lloyd Fornah’s departure follows the resignations of Ed Mitchell and senior underwriter Vanessa Fouquet earlier this year.
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The recall market has been affected by flat rates, as well as loosening policy terms and conditions.
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New market entrants, fraying wordings and inflation disruptions are among the key trends to watch out for in 2023.
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