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Sterling makes appointments to commercial team

Written By Trading Forex News on Tuesday, January 19, 2010 | 6:48 AM

Sterling Insurance has announced two new appointments to its commercial new business and development underwriting teams.

Nicholas Hartley and Andy Hulme are taking up the posts of senior development underwriter and senior underwriter, respectively.

Mr Hartley joins from AIG and will be responsible for the Development Underwriters’ team, whilst also acting as a referral point for the existing business team.

Mr Hulme moves from Aviva where he has been European underwriter for the group’s property owners’ team for over three years.

As senior underwriter heading up the commercial new business team Mr Hulme will be responsible for developing new business routes, as well as acting as a referral point for the new business underwriters.

The appointees will report to general insurance director, David Sweeney, who comments: “The two new appointments will not only assist our drive for commercial growth but will greatly assist the development of technical understanding and expertise of our underwriters.”

Last month, Sterling announced that it is increasing buildings and contents rates for high net worth clients, at renewal.

Wealthy clients can expect a 7.5% hike on clean risks, excluding any increases applicable to add-on covers, with a further 3% direct debit charge on selected products.

The insurer said the rises are part of a “sustainable approach to pricing” and represent necessary corrections after a prolonged soft market.
The latter has been created by the economic downturn, increasing access to online solutions and the consumer’s desire to achieve lower premiums, according to Sterling.

The group believes its competitors will be forced to follow suit to avoid customer dissatisfaction with claims in the future, and the firm’s brokers are apparently in support of the move.

by Gill Montia Source:

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