Where there is chaos there is opportunity – and in these uncertain political times amid the growing threat of terrorism it appears that opportunity has come to insurance.
Terrorism insurance is on the rise and that means that companies are rapidly expanding the range of policy and cover options they put forward – and in the case of one rebranded insurer, that also means expanding their internal teams.
Neon has now announced the appointment of Gregg McPhee to the role of head of political violence. McPhee will officially join the firm on October 01 and will lead the existing team while reporting to the company’s chief underwriting officer Darren Lednor.
Previously a senior broker in worldwide property at THB, where he successfully developed terrorism facilities, McPhee’s goal will be to significantly increase Neon’s profile in the market. He boasts 35 years’ experience across both broking and underwriting and Martin Reith, CEO of Neon Underwriting, is confident that the knowledge McPhee holds from working in the terrorism space at companies such as Benfield, Alexander Forbes, BMS Group and
RFIB will help take his firm to new heights.
“We are delighted to have attracted someone of Gregg's experience and specialism to lead our political violence team as we look to enhance our profile and increase our relevance in this market,” he said.
“Neon has been offering political violence insurance for a number of years and, although this is a highly competitive market, demand remains high. As Neon continues to add more short tail lines to our syndicate, political violence will be a core line that complements our direct property underwriting.”
Related stories:
Neon swoops for Olly Reeves of Lloyd’s of London
Neon recruits casualty head from MSIG
