Clearwater Underwriting, a specialty underwriting business focused on marine risks, has entered the Crisis Management market with the appointment of Tim Strong as Managing Director, Crisis Management.
In his new position, Strong will build and lead Clearwater’s dedicated Crisis Management business, which will initially focus on Active Assailant and Terrorism & Political Violence, with plans to expand the product suit as the portfolio grows.
The executive will oversee the establishment of the new portfolio and developing its underwriting proposition, combining technical expertise with a deep insight into the evolving nature of geopolitical and security risks.
Strong brings to his new position over 15 years of experience specialising in crisis management, terrorism and political violence, having most recently served as Head of Crisis Management at Aspen.
Prior to that, he spent more than a decade at Aspen Insurance Group, progressing through underwriting roles before becoming Head of Crisis Management.
Strong commented: “I’m delighted to have joined Clearwater Underwriting at such an exciting stage in the company’s trajectory, and I’m looking forward to building out its Crisis Management portfolio. Against an increasingly volatile geopolitical backdrop, there is strong demand for both Active Assailant and Terrorism & Political Violence products.
“Our focus will be on ensuring those products continue to provide effective and relevant risk transfer for our clients, while developing new solutions where we see emerging risks or gaps in existing coverage.”
The launch comes against an increasingly geopolitical volatility, with terrorism, political violence and other forms of crisis exposure creating growing demand for specialist insurance solutions.
Clearwater aims to meet this demand with a technology-enabled, disciplined underwriting approach, while building a broader Crisis Management capability over time.
Richard Young, Chief Underwriting Officer at Clearwater Underwriting, stated: “The nature of geopolitical risk has changed significantly in recent years, creating a more complex environment for businesses and increasing the need for specialist Crisis Management solutions. Tim has a deep understanding of this market and a clear view of how the products need to evolve alongside the risks they are designed to address.
“His appointment gives us the opportunity to build a Crisis Management portfolio with a strong technical foundation, while taking a fresh approach to where we see demand developing across Active Assailant and Terrorism & Political Violence.”
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