’The launch of our intangible assets team is a natural progression for Arch,’ says chief executive
Arch Insurance International has taken an underwriting team from Aon to form a new intangible assets division, a statement released yesterday (8 November 2023) said.
The new arm will see the five-person team offer a range of insurance solutions that provides comprehensive protection to businesses in the market.
Coverage will be provided to organisations of all sizes for several risks, including intellectual property (IP) infringement exposures, contractual liabilities, invalidation and business interruption.
Hugh Sturgess, chief executive of Arch, said: “The launch of our intangible assets team is a natural progression for Arch as we continue to expand our professional lines offerings.
”We see significant opportunities for growth in this class and are well positioned to offer our brokers and mutual clients comprehensive solutions to respond to the evolving risks to their intangible assets.”
Arch took the team from Aon after agreeing to acquire certain assets of its IP liability managing general agent (MGA) business.
The group will be based in London and be led by Ian Lewis, with him taking up the role of head of intangible assets.
The underwriting team also includes Justyn Hardcastle, senior underwriter, Carys Bickmore, underwriter, Ben Kemsley, underwriter and Chris Sclimenti, a US-based senior underwriter who will work closely with the London team.
Lewis Lee, chief executive of Aon’s Intellectual Property Solutions, said: “We are very proud of the underwriting team and how they have helped Aon continue to develop the IP Liability Insurance market over the last few years. In an innovation-driven growth economy, solutions involving IP assets represent a significant opportunity for Aon and the insurance industry globally.
”We will continue to focus on broking the full mix of IP solutions for our clients – which includes continuing to grow our IP Liability business.”
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