Allied World Assurance (AWH) has launched a new global crisis management division, which will provide a wide range of products for organizations.
The new division comprises of structured trade credit, political risk and multi-buyer trade credit and product recall and offers products for organizations to manage and recover from issues and incidents related to business, including brand, reputation, finances, and operations.
Global crisis management division executive vice-president Todd Germano will manage all components of the business, including product offerings.
Germano said: "We have made a significant investment in building this comprehensive crisis management platform which will be led by four industry veterans with extensive expertise in their sectors."
Allied World underwriting and global risk group president Frank D’Orazio said: "The customers we serve have increasingly global and complex business models that require a unique understanding of risk and specialized underwriting approach."
In 2014, Allied World North America launched Mergers & Acquisitions (M&A) unit for the Canadian market.
The unit provides products, including representation and warranty insurance, tax opinion liability, specific contingency insurance, loss portfolio transfers and loss mitigation insurance/litigation buyout.
Through its subsidiaries, Allied World offers property, casualty and specialty insurance and reinsurance solutions to customers.