Tokio Marine Management Australasia (TMMA) has named Ankitha Mahishi as its new head of internal audit, effective Sep. 9.
TMMA is a representative and managing agent for Tokio Marine & Nichido, which is part of the Tokio Marine Group.
In her new position, Mahishi (pictured) will also serve on the company’s executive leadership team.
Mahishi brings significant experience in areas such as technology risk, internal auditing, and compliance testing.
Regarding her new role, Mahishi said she will use her expertise to assist TMMA in fostering sustainable and ethical practices.
“I am eager to leverage my expertise, knowledge, and skills to support Tokio Marine Management Australasia in maintaining and building sustainable and ethical practices,” she said.
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“[Mahishi’s] appointment highlights our ongoing dedication to risk management at Tokio Marine,” said Jim Glossat, CEO of TMMA.
The leadership announcement follows the launch of TMMA’s new insurance offering.
In August, TMMA introduced a new insurance product aimed at addressing the needs of the event and entertainment industries in Australia: Event Cancellation and Non-Appearance Insurance.
The coverage offers financial protection for organisers facing unexpected disruptions, with up to A$50 million available per event.
According to John Dimos, head of sales and distribution partnerships at TMMA, the new policy is designed to help event organisers recover financially when events are unexpectedly cancelled, postponed, or interrupted due to circumstances beyond their control.
The introduction of this product follows increased demand for event cancellation coverage, particularly after the widespread disruptions caused by the COVID-19 pandemic.
Australia’s live entertainment sector previously called for government-backed initiatives to help support event organisers.
In response, the Victorian government launched a COVID-19 event insurance scheme in 2021, which covered a range of events, but TMMA’s offering provides expanded coverage for a broader array of event types and industries.
Steve Bardsley, underwriting manager at TMMA, highlighted the importance of offering this type of coverage to the Australian market.
“Our research indicates that this product isn’t typically handled by Australians for our local market, so being at the forefront and offering a local solution is truly exciting,” he said.
