Broker UIB Forms Business & Capital Risk Practice After Restructuring Special Lines
United Insurance Brokers (UIB), the London-based reinsurance broker, has announced the creation of its Corporate & Capital Risks practice. This announcement comes after UIB this month restructured its Specialty Lines Division and further developed its multi-line suite of specialty products.
The practice, which is led by James Wilson, is a multidisciplinary offering that provides the full spectrum of insurance solutions to help navigate the complex environment of today’s business world, UIB said in a statement.
The team will operate within UIB’s Specialty Lines Division, recently renamed “Non-Marine Division,” which is led by Co-Heads Chris Townley and Julian Ball. The decision to rename the division reflects the enhanced offerings to UIB’s global customer portfolio and will drive the promotion of the team’s diverse product suite.
“By bringing together one team of professionals working across different specialist lines, UIB can provide a complete and unique intermediary service to our clients,” said James Wilson, Head of Corporate & Capital Risks.
“Normally, these very different insurance classes are spread across different divisions in the insurance brokerage profession. However, by working as one specialized unit, we can identify risks and structure a range of insurance policies tailored to each client’s specific and different risk management requirements,” Wilson added.
The Corporate & Capital Risks practice focuses on all corporate and capital issues, including directors, professional and general liability, as well as more specialized solutions for transaction-related risks, real estate and environmental liability; and exposure to cyber, media and technology.
Following the restructuring, the UIB Specialty Lines Division now consists of four business units. These are Crisis Management, Corporate & Capital Risks practice, Direct & Facultative Property and International Liability.
UIB also recently appointed two new experts to the Corporate and Capital Risks team. Nikhil Shah has joined the new practice as associate director in Transactional Risks and Emeka Cole as senior broker in Cyber, Media & Tech Risks.
“The division’s restructuring is a great opportunity for us to create a knowledge center for UIB’s global portfolio. Unlike traditional mono-line specialist teams, we have expanded our specialist expertise to encapsulate multi-line and multi-territorial business classes to suit the ever-changing needs and risk appetite of our clients,” said Chris Townley and Julian Ball, UIB Co- Heads of Specialty Lines.
Source: United Insurance Brokers (UIB)