Hiscox announces senior hire as it launches new FI offering

Hiscox has announced a senior hire as it officially launched a new financial institutions (FI) offering.

The new offering will allow clients to choose up to four areas of cover, including directors’ and officers’ (D&O), professional indemnity/errors and omissions, crime and cyber.

It will be available to FI’s worldwide such as banks and asset managers.

The product expansion will be headed up by recently-appointed senior underwriter Joe Dearsley.

Colin Buchanan, Hiscox’s London market casualty divisional director, said: “Last year we marked our 10^th 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.”

Experience

Dearsley joins Hiscox from Liberty Specialty Markets, where he served as a senior underwriter for six years. He held the same role at Axis for seven years.

In his new role, he will report to Steven Pearsall, D&O line underwriter, and be based in Hiscox’s London office.

Pearsall said: “We are delighted to attract an FI underwriter of the calibre of Dearsley, 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.”