Product recall

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.

HDI Global is understood to have led the policy, while Aon is said to be the broker.

Underwriters are keeping a watching brief on how the regulation may influence claims trends.

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.

Jon Atkinson will join the carrier in April 2022 as lead underwriter.

Claims from recalls due to lithium-ion batteries, which are heavily linked to the sustainable auto industry, are causing a capacity squeeze and affecting rates on certain policy lines.