Mike Bottle: Hello, and welcome to the latest in the series of updates from Arch’s UK region division. My name is Mike Bottle, senior vice president responsible for strategy and distribution. I’m delighted to welcome Carl Jago, head of casualty, to discuss Arch’s solving complex risk initiative. Arch is doing something quite unique with this offering, Carl. Can you tell us a bit more about our products liability led solutions?
Carl Jago: Liability lines of insurance are an incredibly important part of what we do in Arch UK. So, we’re a long-term partner there. Solving complex risk gives us a platform to showcase and to promote that corporate expertise in challenging to place, liability products. We absolutely recognize the need to adapt our products and services to meet the needs of our policyholders and in that emerging risk landscape.
Mike: Well, that’s excellent context, Carl. Can you give us a bit of a picture around some of the risks that you’re seeing?
Carl: Yeah. Sure. So, we’re seeing plenty of opportunities in decarbonization, electrification, changes in critical infrastructure, specialty sciences and engineering, advancements in materials. You know, we’ve just seen one case recently where, you know, if you think of a kite type product that’s tethered to the ground. It has a tensile rotary transmission, so it’s autogiro. It harnesses the power from the winds, which generates the turbine. You know, this is a typical new startup, and something that we’re very keen to write.
Mike: Okay, Carl. So that really does sound like this. We’re talking about complex risks here. So traditionally, I would have suggested those would have been placed in the London market. So, what’s the advantage for our brokers to come to us direct?
Carl: Yeah. Well, I think the key message here is that you don’t need to go to the London market. You can access us directly in the retail space. There’s been a huge amount of investment in our local underwriters. They’re incredibly well equipped, have a lot of experience, very articulate. And we also have a lot of expertise in dealing with companies that export internationally as well with particular emphasis on USA exports. And in terms of minimum premiums? Again, typically much lower than you would find in the Lloyd’s and London market.
Mike: Okay. So, the message relatively simple here then, Carl, is that if a broker’s got a risk that they think might fit this initiative, they should essentially just contact their local branch office.
Carl: Absolutely.
Mike: Fantastic. Thanks, Carl.