Canopius, the international specialty and property/casualty re/insurer, has announced the creation of its consolidated Natural Resources team in response to market demand.
The team encompasses energy, heavy industry and construction to better reflect how brokers in these classes allocate business. They write across upstream, midstream and downstream energy, as well as power and renewables, mining, metals and chemicals, ensuring alignment with how risks are placed in the market.
This consolidation will allow underwriters to work with brokers to create bespoke, cross class solutions for their client’s needs, reinforcing the insurer’s commitment to providing the best products for insureds, the company said.
The team will also bring together technical specialists, in-house engineers and claims experts to enable more efficient and proactive knowledge sharing of emerging risks to inform mitigation and feed into the development of tailored products.
This includes broader coverage where required, with additional products such as sabotage and terrorism, cyber, project cargo or casualty complementing the core offering. It will also ensure a hands-on claims approach to drive more seamless operations across the whole insurance lifecycle.
“Our main goal is always to find the best and most efficient way to help our brokers deliver for their clients,” commented Mark Houghton, global product leader – Specialty at Canopius.
“With upstream, midstream and downstream energy, as well as power and renewables, mining, metals and chemicals being interconnected, we wanted to make sure we were best set up to reflect the fact that they often require similar expertise,” he added. “With a consolidated team, we can provide a more efficient service across the whole lifecycle from risk mitigation to claims.”
Source: Canopius Group
Topics
Carriers
New Markets
Reinsurance
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