BluNiche, a London-based managing basic agent (MGA) that makes a speciality of product recall insurance coverage, introduced the launch of BluNiche UK to focus on small and medium sized companies throughout the UK.
BluNiche UK is led by Ed Mitchell, head of UK, who has 25 years’ expertise within the product recall insurance coverage markets, together with worldwide operations. Beforehand, Mitchell was international head of Product Recall at XL Group and was most lately principal underwriter with MS Amlin, the place he led a crew of three underwriters and constructed it right into a lead and established Lloyd’s-focused product recall underwriter.
The brand new division, primarily based close to Birmingham, England, would be the solely UK MGA outdoors of the London market centered solely on writing product recall insurance coverage.
BluNiche was launched in 2021 by MGA incubator NuVenture Worldwide, which is supported by insurance coverage know-how and knowledge providers firm Xceedance.
“The London market has historically centered on US and worldwide product recall dangers. Unbiased UK regional brokers have typically been neglected prior to now – we intention to vary that,” commented Neil Evans, BluNiche founder and managing director.
He stated BluNiche UK can be the one UK underwriter providing a complete suite of product recall insurance policies – capitalizing on Mitchell’s expertise to supply versatile and bespoke options, serving to UK regional brokers higher assist their purchasers.
“We’re seeing a surge in demand for these merchandise within the UK, which we’re excited to have the ability to tackle instantly,” stated Evans. “Ed and I’ve been pleasant opponents for greater than 20 years, and I’m delighted to welcome him to the BluNiche crew, to assist us broaden and develop our UK enterprise.”
“There has by no means been extra demand from UK companies for product recall insurance coverage. That is being pushed by a rising requirement underneath contract within the provide chain to buy protection, together with an growing recognition of the monetary and reputational harm attributable to recollects,” in line with Mitchell.
“This is a superb alternative for an knowledgeable native MGA to supply these specialist area of interest merchandise to the UK market, and I look ahead to rising BluNiche UK,” he added.
Mitchell, who is predicated in Malvern, Worcestershire, stated he will likely be hiring extra underwriters in 2024 and is at present engaged on finalizing capability.
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