Product recall
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Plaintiffs allege that manufacturers and retailers have broken environmental laws. -
The MGA is expected to launch a product-recall portfolio in September.
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Plus, the latest people moves and all the top news of the week.
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The increased tariff on China trade could drive up the loss quantum on the SharkNinja recall and others.
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Plus, the latest people moves and all the top news of the week.
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Starr and Axon also are among those exposed to the Marsh USA-placed $40mn line.
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Amie Townsend will be responsible for developing Beat’s UK and Europe platform.
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The associate director is exiting the broker’s product recall team after 10 years.
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In the food and beverage market, rates are falling by an average of 3%-4%.
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The mean nuclear verdict for 2013-2022 was $89mn, versus $76mn in 2010-2019.
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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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HDI Global is understood to have led the policy, while Aon is said to be the broker.
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Underwriters are keeping a watching brief on how the regulation may influence claims trends.
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McCoy’s appointment follows the news that ERS-owned IQUW is venturing into recall with a crisis management product led by Talbot’s Jon Atkinson.
