BluNiche, a London-based managing general agent (MGA) that specializes in product recall insurance, announced the launch of BluNiche UK to target small and medium sized businesses across the UK.
BluNiche UK is led by Ed Mitchell, head of UK, who has 25 years’ experience in the product recall insurance markets, including international operations. Previously, Mitchell was global head of Product Recall at XL Group and was most recently principal underwriter with MS Amlin, where he led a team of three underwriters and built it into a lead and established Lloyd’s-focused product recall underwriter.
The new division, based near Birmingham, England, will be the only UK MGA outside of the London market focused solely on writing product recall insurance.
BluNiche was launched in 2021 by MGA incubator NuVenture International, which is supported by insurance technology and data services company Xceedance.
“The London market has traditionally focused on US and international product recall risks. Independent UK regional brokers have often been overlooked in the past – we aim to change that,” commented Neil Evans, BluNiche founder and managing director.
He said BluNiche UK would be the only UK underwriter offering a comprehensive suite of product recall policies – capitalizing on Mitchell’s experience to offer flexible and bespoke solutions, helping UK regional brokers better support their clients.
“We are seeing a surge in demand for these products in the UK, which we are excited to be able to address directly,” said Evans. “Ed and I have been friendly competitors for more than 20 years, and I am delighted to welcome him to the BluNiche team, to help us expand and develop our UK business.”
“There has never been more demand from UK businesses for product recall insurance. This is being driven by a growing requirement under contract in the supply chain to purchase coverage, along with an increasing recognition of the financial and reputational damage caused by recalls,” according to Mitchell.
“This is an excellent opportunity for an expert local MGA to offer these specialist niche products to the UK market, and I look forward to growing BluNiche UK,” he added.
Mitchell, who is based in Malvern, Worcestershire, said he will be hiring more underwriters in 2024 and is currently working on finalizing capacity.
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