Markets/Coverages: Arch Insurance Int’l Launches Intangible Assets Team for IP Risks
Arch Insurance International has launched an intangible assets team, which joins from Aon following an agreement to acquire certain assets of its intellectual property (IP) liability MGA business.
Led by Ian Lewis as head of Intangible Assets, the five-person underwriting team will offer a range of insurance solutions that provide comprehensive protection to businesses for the fast-evolving intangible asset environment.
Coverage will be provided to organizations of all sizes for a broad range of risks, including intellectual property infringement exposures, contractual liabilities, invalidation and business interruption. Lewis will report to Duncan Smith, head of Professional Lines.
With more than 30 years of insurance market experience, Lewis has worked primarily in the intellectual property and intangible risk arenas. Most recently, he was global head of Intellectual Property Underwriting Solutions at Aon. Prior to Aon, Lewis held roles at Tokio Marine Kiln, Samian Underwriting Agency and Miller Insurance Services.
Based in London, the underwriting team also includes Justyn Hardcastle, senior underwriter; Carys Bickmore, underwriter; Ben Kemsley, underwriter and Chris Sclimenti, a U.S.-based senior underwriter who will work closely with the London team. Sclimenti will also be responsible for spearheading Arch’s life sciences practice.
“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,” commented Hugh Sturgess, chief executive officer, Arch Insurance International, in a statement.
“By bringing on board an established and respected team led by Ian, we seek to establish Arch as a lead market in the intangible assets space,” Sturgess added.
“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,” according to Lewis Lee, CEO of Aon’s Intellectual Property Solutions.
“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,” Lee continued.
Source: Arch Insurance International
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