Leading specialist insurance underwriters Canopius Group Limited recently announced a number of coming changes to its Professional Indemnity underwriting management and strategy.
In order to keep pace with recent changes to the business liability insurance underwriters’ British retail strategies, Canopius will begin to focus its Professional Indemnity account efforts on a more select group of professional UK organisations going forward, with a specialised focus on smaller firms. Professional Indemnity head for Canopius Underwriting Davind Hunwick will remain in control of the portfolio, due to his proven and successful track record in regards to the Professional Indemnity marketplace.
As Mr Hunwick continues his efforts, Canopius will be continuing several strategic partnerships with a selection of coverholders both in the UK and abroad who share a similar focus on providing professional liability insurance to small and medium-sized business enterprises. Mr Jeremy Hyne will remain in his role as manager of these business partnership relationships.
Canopius has also decided to withdraw, effective immediately, from any public liability insurance business efforts that do not dovetail with the focus of its SME retail division. In light of the changes to Canopius’ strategic business approaches, the organisation will be bidding farewell to both Mr Alex Dyer and Mr Russell Newell as a result.
These management shifts at Canopius follows Mr Tim Rolfe’s appointment as head of UK Retail Strategy this past September. Mr Rolfe previously worked with insurer Aviva group for nearly two and a half decades, performing in several different capacities, including as managing director of Norwich Union’s strategic distribution establishment.
Industry experts have posited that Canopius’ reduction in its Professional Indemnity efforts come as a result of the new focus on its re-evaluation of its UK retail business arm, as the Professional Indemnity markets have been subject to increasing costs due to a rise in claims recently.