Validus Specialty expands into crisis management with Liberty hire

Validus Specialty has expanded its product suite with the launch of crisis management insurance solutions in the US, and appointed Jane McCarthy to lead the development of the new portfolio.

Validus said the expansion leveraged Talbot Underwriting’s (Lloyd’s syndicate 1183) existing crisis management expertise and established a complementary offering focused on the US Middle-Market. The new portfolio will comprise of two main classes of coverage - product contamination, including product recall, and auto component recall.

As senior vice president of US crisis management, McCarthy will establish a New York City based team, complimenting the organisation’s global Lloyd’s placed business.

McCarthy has over 33 years of experience in production underwriting, portfolio and profit centre management. Most recently, she was senior vice president, global head and chief underwriting officer of global crisis management at Liberty International Underwriters.

Jonathan Ritz, CEO of Validus Specialty, said: “Crisis management compliments our business well and Jane has the expertise and relationships to stand up this portfolio quickly. We’ve established an entrepreneurial and underwriting-centric culture here, I expect her team will thrive.”

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