XL Bermuda Creates New Department

XL Insurance Bermuda [XLIB] today [Nov.7] announced it has created a new department within its Professional Lines unit to handle unique, complex insurance risks.

The department, CSI-Complex Situational Insurance, will be led by former XLIB Professional Lines Chief Underwriting Officer James Loder. It will focus on the creation of novel solutions for complex and “one off” non-traditional insurance risks as well as transactional and contingent liability exposures.

In his new role as Chief Underwriting Officer/Senior Vice President of CSI, Mr. Loder’s responsibilities will include development of a portfolio of unique risk products which fall outside the mainstream insurance marketplace, development and implementation of new or modified underwriting strategies, and leading a team in the management of high-performance specialists comprised of underwriters, analysts, chartered accountants, attorneys and other professionals.

Mr. Loder’s career in the insurance industry spans over 25 years. He joined XLIB as Vice President of Underwriting, Professional Lines, in September 1999.

His role involved underwriting of Employment Practices Liability, Directors and Officers Liability and Professional Liability, with a particular emphasis on Lawyer’s Errors and Omissions coverage. The role also included providing regional responsibility for underwriting matters in Professional Lines within XL Insurance’s Latin America region, including the Itau-XL joint venture in Brazil.

Prior to joining XLIB, Mr. Loder spent four years with Aon Group [Bermuda] Limited as Vice President of Professional Liability. Before this he was a Professional Lines retail broker for a large independent brokerage based out of Minneapolis, Minnesota.

Mr. Loder began his career in the industry as an underwriter for St. Paul Companies/Travelers in their Chicago and home offices.

Chief Executive of XL’s Global Professional Insurance operations, Bernard Horovitz, said: “XL Insurance’s Professional Lines business is well known for its creative, entrepreneurial spirit. This is another example of the talent and innovation that we provide to address existing and emerging risks facing our clients.”

Patrick Tannock, XLIB President, said: “Since inception, the Bermuda market has had a reputation for being an incubator for solutions to complex risk.

“This new department will not only serve as a center of excellence for XLIB but we anticipate that it will also serve to enhance the broader Bermuda market as we work to address the ever evolving needs of our corporate clients. With Jim’s technical underwriting knowledge and vast experience, I have every confidence that this department will be beneficial to XLIB and Bermuda.”

XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.

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