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Ironshore appoints high value cargo director at Lloyd’s

Ironshore Inc has appointed industry specialist Richard Northcott as director of High Value Cargo business lines at Pembroke Managing Agency Ltd, based in London.

Mr Northcott will be responsible for overseeing and building Pembroke’s existing portfolio of fine art, specie, valuable belongings, and high net worth assets.

Ironshore’s Pembroke Syndicate 4000 provides High Value Cargo insurance protection, operating from its Lloyd’s Marine division.

High Value Cargo underwrites coverages for physical loss and damage of valuable papers, bullion, precious metals and mining, as well as an extensive fine art portfolio comprised of private art collections, museums, dealers and auction houses and other specialist products, including classic cars, niche motor products and private jewellery.

Distribution lines span a variety of different channels, including traditional London market brokers as well as various companies throughout the Ironshore global platform.

“Ironshore’s High Value Cargo unit is a well-established market for risk, emanating around the globe,” said Mark Wheeler, chief executive officer of Ironshore International. “Richard’s wealth of experience in underwriting and distribution disciplines, combined with his technical understanding and specialist knowledge, make him ideally qualified to lead the ongoing development of this division.”

Mr Northcott most recently served as executive director of the Art, Jewellery, Specie and Private Client Division of Heath Lambert, overseeing a wide range of niche accounts and managing a significant portion of the Lloyd’s binding authorities for the company.

His industry tenure spans more than 20 years with Heath Lambert, throughout its history of mergers and acquisitions, where he specialised in creating innovative solutions for its extensive fine art, jewellery, cash in transit and high net-worth customer base. Whilst at Heath Lambert, Mr Northcott held full binding authority from Underwriters at Lloyd’s continuously since 1993.

“Pembroke’s commitment in meeting the insurance needs of this distinct and specialist class of business provides a solid foundation for continued growth within its High Value Cargo sector,” Mr Northcott added.

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Published November 29, 2011 at 1:00 am (Updated November 29, 2011 at 8:22 am)

Ironshore appoints high value cargo director at Lloyd’s

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