New CSI department created at XL

THURSDAY, NOVEMBER 10: XL Insurance (Bermuda) Ltd has created a new department within its Professional Lines unit to handle unique, complex insurance risks.

The department, CSI-Complex Situational Insurance, will be led by former XLIB Professional Lines chief underwriting officer James Loder.

It will focus on the creation of novel solutions for complex and “one off” non-traditional insurance risks as well as transactional and contingent liability exposures.

In his new role as CUO/senior vice president of CSI, Mr. Loder’s responsibilities will include development of a portfolio of unique risk products which fall outside the mainstream insurance marketplace, development and implementation of new or modified underwriting strategies, and leading a team in the management of high-performance specialists comprised of underwriters, analysts, chartered accountants, attorneys and other professionals.

Bernard Horovitz, chief executive of XL’s Global Professional Insurance operations, said: “XL Insurance’s Professional Lines business is well known for its creative, entrepreneurial spirit.

“This is another example of the talent and innovation that we provide to address existing and emerging risks facing our clients.”

Patrick Tannock, XLIB President, said: “Since inception, the Bermuda market has had a reputation for being an incubator for solutions to complex risk.

This new department will not only serve as a center of excellence for XLIB but we anticipate that it will also serve to enhance the broader Bermuda market as we work to address the ever evolving needs of our corporate clients.

“With Jim’s technical underwriting knowledge and vast experience, I have every confidence that this department will be beneficial to XLIB and Bermuda.”