Product recall
-
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.
-
Axa XL’s product recall team was depleted after two senior underwriters resigned in January.
-
Both Schlesinger and Sandford will report to Matt Humphries, head of crisis management.
-
The appointment follows the resignations of Shaun Russ and Ian Davidson.
-
Jack Broadbent left WTW to join CFC in June 2023.
-
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.
-
Ellen White, underwriter on the product recall team, is due to succeed Michael Crabtree following his departure.
-
Natasha Catchpole previously headed up the product recall team at CFC.
-
Lloyd Fornah’s departure follows the resignations of Ed Mitchell and senior underwriter Vanessa Fouquet earlier this year.
-
The recall market has been affected by flat rates, as well as loosening policy terms and conditions.
-
New market entrants, fraying wordings and inflation disruptions are among the key trends to watch out for in 2023.
Most Recent
-
Inflexion confirms DR&P’s sale to BMS Group
26 July 2024 -
Price Forbes snares Lockton partner O’Keeffe
26 July 2024 -
S&P Global Ratings upgrades Munich Re to AA
26 July 2024 -
Daily Digest: Top news from 26 July
26 July 2024