Business insurance specialists Ink Insurance recently welcomed two to their underwriting team from St Mary Underwriting. 27 year insurance industry veteran Mr Angus Ogg joins Ink alongside his assistant of three years Mr Sam Kemp, the insurer proudly reported.
Ink Insurance’s managing director, Mike Smith, remarked on the brace of appointments, stating that the firm was delighted that both Mr Kemp and Mr Ogg had chosen to join Ink. Their expertise will be invaluable in the further development of the firm’s offering fof the solicitors’ professional indemnity insurance 2011 season, Mr Smith added.
Both new appointments bring a wealth of underwriting experience in this market sector with them, commented Mr Smith. Both Mr Ogg and Mr Kemp have begun to work with Ink’s underwriting team to aid it in formulating plans to offer further enhancements on last year’s offering, the managing director said.
In the conclusion of his statement, Mr Smith added that Ink Insurance was investing heavily to make sure that it has all the underwriting knowledge and systems in place to allow the firm to retain its book. Ink Insurance plans to grow significantly in the coming year by building on its success in 2010, said the managing director.
In related news, industry experts agree that the solicitors’ professional indemnity insurance market may be in store for some rough seas ahead due to the Financial Services Authority’s recent decision to increase the Financial Ombudsman Service’s upward compensation limit to £150,000, up from its previous limit of £100,000. This could lead to increases in insurance premiums for firms due to more clients filing for damages, experts said.