Fairfax subsidiary eyes growth in 'competitive' credit insurance market

Crum & Forster, a US-based property/casualty, accident & health and life insurer wholly owned by Fairfax Financial Holdings, is looking to grow in the 'competitive and challenging' credit insurance market.

The insurer has appointed Daniel Sussman as new president of its credit division. He will be responsible for leading C&F’s expanding admitted and surplus lines credit insurance platforms, covering a full range of credit risks for North American customers and other select jurisdictions.

Sussman also will oversee the strategic partnership with Nexus Underwriting in London – Nexus C&F – which offers an established presence for serving UK and Continental European clients.

Sussman joined C&F in 2019 as senior vice president to launch C&F’s credit group and build out a team of credit and risk finance professionals. Under his stewardship, the division focuses on four specialty areas to address financial, operational and strategic corporate risks, including trade credit, multi buyer credit, mortgage risks and alternative risk solutions.

Prior to joining C&F, Sussman was at Ironshore for nine years, where he founded and served as president of trade credit, political risk and special risk, overseeing underwriting teams in the US, London, Dubai, Singapore and Sydney.

Marc Adee (pictured), chief executive officer of Crum & Forster, said: “Dan’s breadth of knowledge and expertise make him the perfect fit to lead our efforts in the competitive credit insurance market. We look forward to Dan and his outstanding team driving profitable growth across the division’s extensive product suite, as well as supporting the increasingly diverse risk management needs of a wide range of customers.”

Sussman commented: “We look forward to continuing to provide our valued clients and producer network with excellent service and the innovative products and solutions they need to successfully operate in this challenging market.”

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