Arch starts transport insurance unit
A subsidiary of Bermudian-based re/insurer Arch Capital Group has launched a new transport and logistics insurance division, which will be based in London.
ACG subsidiary Arch Insurance International said the unit will be led by insurance veteran Steve O’Gorman and will offer a range of specialist marine and property and casualty insurance solutions for both the logistics and cargo sectors on a global basis.
It will also offer packaged insurance products specifically designed for companies operating in the fast-growing third-party logistics sector, including contractual/professional liability, shipper’s interest cargo, and property and equipment cover.
Mr O’Gorman will report to James Croome, active underwriter of Arch Syndicate 2012 and head of fine art & specie. He was previously international head of marine and energy at Bermudian-based Argo Group having joined the company in 2016. Prior to that he worked at CNA Insurance Company for 19 years, most recently as European underwriting director – transport and logistics. He began his insurance career in 1984 at Sedgwick.
Mr Croome said: “We believe that our ability to provide the breadth of cover – whether individual products or packaged solutions – through a single dedicated operation focused exclusively on the individual client will prove a winning market proposition.”
Mr O’Gorman added: “Our aim is to combine our market experience and technical underwriting expertise with data informed insight to deliver the scope and quality of products that this evolving marketplace requires.”