Specialty insurance provider Hiscox USA announced the launch today of Hiscox Global Markets in the United States. The New York-based operation is part of Hiscox in Bermuda.
The Global Markets area at Hiscox underwrites internationally traded business via the Lloyd's insurance market and specialist retail business worldwide.
Neil Bolton, president, Hiscox Global Markets in the United States, said, "The U.S. already delivers over 40 percent of the premium income for the Hiscox Group mainly through our Lloyd's business. The launch of Hiscox Global Markets in the U.S. underpins our desire to expand our footprint in the U.S. market."
Hiscox said its U.S. Global Markets team will begin providing insurance coverage via its teams in Manhattan and San Francisco.
Hiscox said lines of coverage available to brokers will initially include:
o Media liability, available for publishers, broadcasters, multimedia content providers, producers and distributors as well as marketing, advertising and sales agencies.
o Technology errors and omissions for software publishers and providers, hardware and software suppliers, service providers, consultants, project managers, business process outsourcers, telecommunication companies, hosting and co-location services, and video game developers.
o Privacy protection, available for retailers (online and offline), distributors; manufacturers, health care providers and professional services companies.
Hiscox's U.S. Global Markets team includes Mr. Bolton, who joined Hiscox in 1994 and previously worked for Sedgwick Group, the Lloyd's broker, and Carl Bach, business development director, who joined Hiscox in May from ACE where he served as president of the UK and Ireland operations.
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