London, UK (3 February, 2025): Leading global specialist insurer, Hiscox, has launched a new Financial Institutions (FI) offering, significantly enhancing the range of cover available to businesses. The move will further strengthen Hiscox’s position in the market, by offering clients comprehensive protection and peace of mind.
The new offering will provide financial institutions with the option to choose up to four areas of cover: Directors’ and Officers’ (D&O); Professional Indemnity/Errors and Omissions; Crime; and Cyber. 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, Hiscox’s offering will allow brokers to provide FI clients with the broad multi-line coverage they need from a single insurer.
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.
Commenting on the new FI offering, Hiscox London Market’s Steven Pearsall – D&O Line Underwriter, says: “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.”
Colin Buchanan, Hiscox London Market’s Casualty Divisional Director, adds: “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.”
ENDS
For further information please contact:
Hiscox
Carmel McCarthy +44 (0)7769 280903
Notes to editors
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,000 people in 13 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance products in commercial and personal lines. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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