Allied World Assurance Company Holdings AG established a new division focused on coverage for global crisis management.
Five executives – four chosen from within Allied World – will run the Global Crisis Management division. Specific coverages/departments grouped together for this include structured trade credit, political risk, multi-buyer trade credit and product recall.
Frank D’Orazio, president, Underwriting & Global risk Group at Allied World, said that the new division will respond to the needs of business clients who operate globally.
“The customers we serve have increasingly global and complex business models that require a unique understanding of risk and specialized underwriting approach,” D’Orazio said in prepared remarks. “This division will enable us to have more meaningful relationships with our existing customer base while broadening the reach of our business.”
Coverage will be designed to help organizations prepare for, manage and recover from incidents and challenges that can threaten their business in areas including brand, reputation, finances and operations, Allied World said. Such policies will be designed around the premise of having targeted knowledge of the exposures, trends and markets, according to the insurer.
Here’s who will run the division:
Todd Germano, executive vice president. He’ll oversee the operation as well as its coverage offerings. Previously, he was president, Allied World U.S. Property & Casualty.
Bill Mullan, senior vice president and chief credit officer. Before Allied World, Mullan held a number of executive positions at AIG in areas including accounting, treasury and risk management.
Nick Hedley, senior vice president. He also runs Allied World’s structured trade credit and political risk business, and is a veteran of the credit and political risk markets.
Kent Paisley, senior vice president. He also leads Allied World’s multi-buyer trade credit insurance business. He’s been with Allied World since 2013, initially as Canadian head of specialty lines.
Thomas Mangan, vice president. He manages the product recall and product contamination offerings for Allied World, and is a veteran property/casualty underwriter.
Source: Allied World