XL Insurance Bermuda (XLIB) has introduced CSI-Complex Situational Insurance, a new department within its professional lines unit to handle unique, complex insurance risks.
According to insurer, the CSI-Complex Situational Insurance 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.
James Loder former XLIB professional lines chief underwriting officer will lead the new department, XLIB said.
As chief underwriting officer/senior vice president of CSI, 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.
In additional, he will also lead a team in the management of high-performance specialists comprised of underwriters, analysts, chartered accountants, attorneys and other professionals.
Before joining XLIB, Loder spent four years with Aon Group (Bermuda) as vice president of Professional Liability.
XLIB president Patrick Tannock said this new department will not only serve as a center of excellence for XLIB but anticipate that it will also serve to enhance the broader Bermuda market as the firm work to address the ever evolving needs of corporate clients.