Coverholder makes hire; signals expansion plans

Coverholder makes hire; signals expansion plans | Insurance Business

Coverholder makes hire; signals expansion plans
Professional indemnity Lloyd’s coverholder Resource Underwriting Pacific has expanded its footprint into the general & products liability area with the appointment of Darren Fennessy as Australian liability manager.

Fennessy will be based out of RUPPL’s Melbourne office with a nationwide mandate and will become a prominent face with intermediaries during 2014.

He has built up a wealth of knowledge and experience in over twenty years in his chosen field having held senior roles at HIH and as national liability underwriter SRS Underwriting Agency, national liability manager – Vero Corporate & most recently as a senior leader casualty – Suncorp.

RUPPL capacity is 100% Lloyd’s and is led by Canopius Syndicate 4444 and Arch Syndicate 2012.

Paul Muller, managing director said: “Given the challenging market conditions, there was a need to expand our product lines and general products liability was a natural fit with our P.I., directors & officers, association liability and legal expense business. Clients and brokers were consistently requesting that their P.I. and GPL exposures be secured with the one underwriter and Darren’s appointment will go a long way to making that happen.”

Muller also indicated that there would be further expansion at RUPPL over the coming months.

RUPPL has been writing financial lines business for 23 years in the Australian and South East Asian market. Muller said the insurance landscape in the financial lines area had changed dramatically.

He warned that if agencies don’t diversify they will struggle to stay relevant and survive in the market.

Fennessy added: “With the business, products and marketing plans signed off and now in place, Thunderbirds are go. RUPPL is an exciting place to be at.”