Lloyd's coverholder Axon expands into new specialty markets with Allianz hires
Lloyd's coverholder Axon Underwriting Services, a specialty lines programme administrator, has launched a crisis management division to offer specialised product recall insurance solutions in the US.
The new division will be led by senior vice presidents Alex Pittignano and Marcos Garcia Norris, with combined underwriting experience of over 45 years. Pittignano has spent much of his insurance career underwriting and leading crisis management divisions including American International Underwriters, Starr Companies and Allianz Global & Corporate Solutions. Norris has held senior underwriting authority and leadership roles within crisis management divisions at AIG, CV Starr, Novae Syndicate and Allianz Global & Corporate Specialty.
Axon will offer contaminated product recall, consumer goods product recall, and restaurant foodborne illness & contamination insurance. The three programmes will be underwritten in partnership with the E&S/Specialty companies of Nationwide, and will offer a capacity of $10 million.
“Axon’s move into Crisis Management insurance with new specialized products reflects our strategic approach to meet the needs of a Product Recall market eager for reliable and innovative underwriting solutions,” said Randy Hampton, executive vice president and partner. “We are very excited to be offering this through our newly formed Nationwide partnership.”
Doug Gahagan, partner at Axon Underwriting, added: “We’re extremely fortunate to have Alex and Marcos, two highly respected industry experts, join the Axon team to help drive our continued expansion into new specialty insurance markets. I can’t imagine a better way to launch our new Crisis Management Division than with these two leading the charge.”
