Allied World launches global crisis management division
Allied World, provider of property/casualty (P/C) and specialty re/insurance solutions, has launched a new global crisis management division, which is comprised of structured trade credit, political risk, multi-buyer trade credit and product recall.
The division will operate under the leadership of Todd Germano, executive vice president, global crisis management division. Germano was previously president, Allied World US P/C.
According to the firm, the new department will offer an array of products that provide coverage to help organisations prepare for, manage, and recover from issues and incidents that can threaten many facets of their business, including brand, reputation, finances, and operations. These events require highly specialised products, services and vendors to quickly and effectively respond to a crisis, according to Allied World.
The re/insurer will be offering specialty coverage that requires targeted knowledge of the exposures, trends and markets in order to adequately manage the risks associated with the line of business.
“The customers we serve have increasingly global and complex business models that require a unique understanding of risk and specialised underwriting approach,” said Frank D’Orazio, president, underwriting and global risk group at Allied World.
“This division will enable us to have more meaningful relationships with our existing customer base while broadening the reach of our business.”
Germano added: “We have made a significant investment in building this comprehensive crisis management platform which will be led by four industry veterans with extensive expertise in their sectors.
“The risk landscape is dynamic and continually evolving, and through this new group, we will offer solutions-based underwriting for an optimal level of customisation.”
