Hiscox launches new Financial Institutions offering

Hiscox has launched a new Financial Institutions offering available to financial institutions worldwide such as banks, insurance companies and asset managers, with a particular focus on North American, UK, Australian and European institutions.

The new offering will provide financial institutions with the option to choose up to four areas of coverage: Directors’ and Officers’; Professional Indemnity/Errors and Omissions; Crime; and Cyber.

The product expansion will be headed up by recently-appointed Joe Dearsley, Senior Underwriter, who joins Hiscox from Liberty Specialty Markets where, in addition to a previous role at AXIS, he has built up 15 years’ experience underwriting FI risks. He will report to Steven Pearsall, D&O Line Underwriter, and be based in Hiscox’s London office.

“We are delighted to attract an FI underwriter of the calibre of Joe, as we expand in this area. He has an outstanding track record and is highly respected by both brokers and customers alike. I look forward to working with him and other members of our team as we develop our FI proposition.” – Hiscox London Market’s Steven Pearsall – D&O Line Underwriter.

“Last year we marked our 10th anniversary underwriting D&O and this move reflects our ambition to continue widening the scope of our offering. While we have always underwritten D&O cover for FIs, we wanted to provide FI clients with the option to also buy Professional Indemnity, Cyber, and Crime cover from us. Our comprehensive FI offering distinguishes us as one of the few London Market carriers who can offer this breadth of protection, enabling us to respond better to the growing complexity of risks that financial institutions face.” – Colin Buchanan, Hiscox London Market’s Casualty Divisional Director.