A new Lloyd's syndicate focusing on UK professional indemnity insurance was announced today.
Heritage Underwriting Agency launched Syndicate 3245, to be headed by its existing PI underwriter Mark Lawrence.
Heritage said the new syndicate was backed by AA-rated security.
The announcement follows a report last month in Insurance Times that Heritage had a specialist PI syndicate in the pipeline.
The company also announced the resignation of its chairman Walter Fiederowicz and his replacement by John Kavanaugh as a non-executive director and chairman.
Kavanaugh has held positions including group deputy chairman of Aon UK Holdings and chief executive of Houston Casualty Company, London.
