XL Group assembles crisis management team in US
XL Group has added a crisis management team to provide corporate clients in the US with product recall, war, terrorism and political violence, kidnap, ransom, and extortion insurance.
Led by Denise Balan in New York, the new team has underwriters based in New York and Boston, coordinating global coverage with teams in London and Singapore.
“Every day we are reminded in the news of the challenges our clients face in their day to day operations,” said Stephen Ashwell, chief underwriting officer, Crisis Management, XL Group. “We’ve brought together a winning team of underwriters who with decades of experience in Crisis Management will not only help businesses prepare and plan for these events but also manage one effectively when necessary.
“Under Denise’s leadership, we’re looking forward to building out our portfolio of crisis management products and preparing more companies to operate safely and protect their assets wherever their new business opportunities lie,” noted Stephen. “We have already developed a strong reputation for providing product recall and contamination coverage and currently are underwriting war, terrorism and political violence coverage. In the near future, we look forward to announcing our new kidnap and ransom product currently under development.”
Balan joins XL Group as country manager for the Crisis Management book in the US. Prior to her new position at XL, she held various legal and underwriting management positions at AIG, including profit center management of WorldSource's Crisis Management division and head of Non-Profit & Developing Markets for Accident & Health.
“Our team provides single point access to XL’s global capabilities,” explained Balan. “With more than half a century of collective experience between us, we’re looking forward to applying that experience to help XL’s clients navigate a risk world with effective crisis management products and services.”
Joining Denise in XL’s New York office are Ben Tucker who will head XL’s US political violence and terrorism business and product recall underwriter Natasha McLean. Tucker joins XL Group from Marsh where he most recently served as senior vice president, property specialised risk group where he helped clients address their terrorism, political violence, business interruption, and supply chain risks. McLean joins from AIG where she has spent the last decade underwriting product recall and contaminated products as well as kidnap, ransom and extortion insurance.
In Boston, XL Group’s crisis management team also adds Clara Chan as an underwriter for War Terrorism and Political Violence coverage, who brings to XL underwriting experience from both Lexington Insurance Company and Hiscox. The team’s Boston-based underwriting resources also include product recall North American leader John Turner. He joined XL in 2011 to establish XL Group’s product recall and product contamination underwriting operation in North America.
