Arch Insurance coverage Worldwide has launched a brand new transport and logistics insurance coverage division, to be led by an business professional with 35 years of market expertise.
The brand new division will supply a set of specialist marine and P&C insurance coverage options for each the logistics and cargo sectors on a world foundation. It can additionally present packaged insurance coverage merchandise focused at corporations working within the third-party logistics sector; these bundled merchandise embody contractual/skilled legal responsibility, shipper’s curiosity cargo, and property & tools cowl.
Steve O’Gorman has been tapped to function the division’s head. As head of transport and logistics, O’Gorman will probably be liable for bringing merchandise to market and serving to construct a various portfolio of enterprise. He’ll report back to James Croome, energetic underwriter Arch Syndicate 2012 and head of superb artwork & specie.
O’Gorman has over 35 years of expertise in each the worldwide cargo and logistics segments. He most just lately served as worldwide head of marine & power at Argo Group, which he joined in 2016. Earlier than that, he spent 19 years of his profession at CNA Insurance coverage Firm, most just lately as European underwriting director for transport & logistics. O’Gorman began his insurance coverage profession in 1984 at Sedgwick.
“The launch of the transport and logistics division is a major step for Arch given the expansion potential we see within the sector,” stated Croome. “We consider that our means to offer the breadth of canopy – whether or not particular person merchandise or packaged options – via a single devoted operation targeted solely on the person consumer will show a profitable market proposition.”
“We’re excited in regards to the potential to ship market-advancing merchandise within the cargo and logistics area,” added O’Gorman. “Our goal is to mix our market expertise and technical underwriting experience with knowledge knowledgeable perception to ship the scope and high quality of merchandise that this evolving market requires.”