Managing general agent BluNiche, which specialises in product recall insurance, has launched a UK division to be led by Ed Mitchell (pictured above).
“There has never been more demand from UK businesses for product recall insurance,” Mitchell, head of UK, said in an emailed release. “This is being driven by a growing requirement under contract in the supply chain to purchase coverage, along with an increasing recognition of the financial and reputational damage caused by recalls.
“This is an excellent opportunity for an expert local MGA to offer these specialist niche products to the UK market, and I look forward to growing BluNiche UK.”
BluNiche, a subsidiary of incubator NuVenture International, noted that BluNiche UK will be the only British MGA outside of the London Market that has a sole focus on product recall cover. Based in Malvern, Worcestershire, Mitchell is currently working on finalising capacity and will be hiring underwriters in 2024.
“The London Market has traditionally focussed on US and international product recall risks,” highlighted BluNiche founder and managing director Neil Evans (pictured immediately above). “Independent UK regional brokers have often been overlooked in the past – we aim to change that.
“We are seeing a surge in demand for these products in the UK, which we are excited to be able to address directly. Ed and I have been friendly competitors for more than 20 years, and I am delighted to welcome him to the BluNiche team, to help us expand and develop our UK business.”
Mitchell, who most recently served as principal underwriter at MS Amlin, brings 25 years of product recall insurance markets experience to BluNiche UK. His credentials include time spent as global head of product recall at XL Group.
According to BluNiche, its new division will target small and medium-sized businesses across the UK.
What do you think about this story? Share your thoughts in the comments below.