Consilium Introduces Casualty Insurance Tool
Consilium Expands Globally with New Casualty Binder
Consilium, a leading global Specialty (re)insurance broking business, has announced a major expansion of its Cedant Facultative Risk Solutions team. The expansion includes the launch of a new Casualty binder for its UK division, Consilium Risk Solutions, and the opening of a new office in Singapore, subject to regulatory approval [5][6].
The innovative Casualty binder is a delegated authority facility designed to provide high-quality casualty insurance with speed, service, and competitive premiums. It is backed by A-rated capacity and led by Senior Underwriter Luke Browne, who brings over 10 years of market experience in underwriting Liability and Contractors All Risks [2].
Key features and advantages of this casualty binder include:
- Quality Paper and Competitive Premiums: The binder emphasizes strong underwriting quality alongside attractive pricing, addressing market needs for reliable coverage with cost efficiency [1].
- Speed and Service: The product offers faster setups and efficient service, enabling brokers and clients to access casualty insurance with streamlined processes and quicker turnaround times [1].
- A-Rated Capacity: The facility benefits from backing by A-rated delegated authority capacity, ensuring financial strength and security for policyholders [3][4].
- Specialist Underwriting Team: The appointment of Luke Browne as Senior Underwriter to lead the casualty binder initiative ensures expert casualty risk assessment and management [2][3].
- Exclusive Broker Facility: Consilium provides this binder as an exclusive offering through its UK wholesale broker division, enhancing market access for brokers handling casualty risks [4].
Matt Pini, Managing Partner at Consilium Risk Solutions, comments: "We're delighted to welcome Luke to the team to manage our new Casualty binder. Luke has strong broker relationships and deep market knowledge, he is entrepreneurial and service-oriented, perfectly complementing the rest of the team." [7]
Pini further adds, "Claims service in this sector of the market is notoriously poor. Our in-house claims team will inject much needed service to the market with an unwavering focus on delivering better outcomes for both brokers and the contractors they serve." [8]
The Casualty binder is aimed at low and medium risk contractors and includes broader wordings such as working at height, depth, or high heat exposure, and offers valuable extensions like Efficacy, Goods on Hook, Rip and Tear, and Defective Workmanship [9].
In addition, Consilium has launched a new global delegated underwriting authority (DUA) service called Exponential. This service is available to both insurance and reinsurance coverholders globally, promising to disrupt the prevailing market for binder placements and help coverholders grow their businesses exponentially [10].
The Singapore office will serve as a gateway for Consilium to broaden its reach across Asia Pacific. The new office will deliver specialist reinsurance solutions to cedants [6].
To further promote its new Casualty binder, Consilium's Risk Solutions team will commence a UK wide roadshow [11]. The claims from the binder will be managed in-house by Consilium's in-house claims team, known for its exceptional advocacy-led approach [8].
Consilium expects to add further products to the binder later in the year, including Contractors All Risks, Plant, and Property Casualty [4].
References: [1] https://www.consiliumrisk.com/news/consilium-risk-solutions-launches-innovative-casualty-binder/ [2] https://www.consiliumrisk.com/team/luke-browne/ [3] https://www.consiliumrisk.com/news/consilium-risk-solutions-announces-major-global-expansion-of-cedant-facultative-risk-solutions-team/ [4] https://www.consiliumrisk.com/news/consilium-risk-solutions-announces-major-global-expansion-of-cedant-facultative-risk-solutions-team/ [5] https://www.consiliumrisk.com/news/consilium-risk-solutions-announces-major-global-expansion-of-cedant-facultative-risk-solutions-team/ [6] https://www.consiliumrisk.com/news/consilium-risk-solutions-announces-major-global-expansion-of-cedant-facultative-risk-solutions-team/ [7] https://www.consiliumrisk.com/news/consilium-risk-solutions-launches-innovative-casualty-binder/ [8] https://www.consiliumrisk.com/news/consilium-risk-solutions-launches-innovative-casualty-binder/ [9] https://www.consiliumrisk.com/news/consilium-risk-solutions-launches-innovative-casualty-binder/ [10] https://www.consiliumrisk.com/news/consilium-launches-exponential-global-dua-service/ [11] https://www.consiliumrisk.com/news/consilium-risk-solutions-launches-innovative-casualty-binder/
- The newly launched Casualty binder, an exclusive offering by Consilium Risk Solutions, is a testament to their commitment towards innovation in underwriting, leveraging technology for faster setups and efficient service, thereby providing high-quality casualty insurance with speed and competitive premiums.
- In alignment with their global expansion, Consilium aims to disrupt the market for binder placements with their new Exponential service, a groundbreaking global delegated underwriting authority (DUA) available to both insurance and reinsurance coverholders, promising evolve their businesses exponentially.
