Underwriters to focus on new private client products.
Hiscox this week announced changes to its art and private clients products. The insurer said its underwriters would focus on the new products, though it has not hired more staff.
From August, the Hiscox high net worth 606 policy will offer family protection including cover in the event of kidnap, ransom, assault and carjacking. The Hiscox 506 policy has been discontinued and will be placed into run off from 2009.
Austyn Tusler, head of art and private client division at Hiscox UK, said: “We believe clients and brokers will benefit from our increased focus on underwriting in our 606 portfolio business. Fine art and motor are also a key area of growth. Concentrating our underwriters on this business and moving them away from the 506 business, allows for a more focused business model that we believe will work well for all involved.”