AXIS Capital Holdings Limited has revealed plans to enhance its suite of specialty insurance solutions in North America with the introduction of a Canadian Environmental Impairment Liability (EIL) insurance unit.
This strategic move will see Ludwig Nagata stepping into the role of Assistant Vice President, Environmental, Canada, to spearhead the initiative.
The newly established division will focus on providing EIL coverages starting from Q2 2024. These coverages will be specifically tailored to address contractors’ pollution liability, pollution legal liability, and follow-form environmental business.
Nagata brings with him two decades of extensive experience in environmental underwriting and business leadership.
His tenure includes twelve years of leading an environmental underwriting team at Liberty Mutual. Based in Toronto, Nagata’s responsibilities will encompass a national scope, reporting directly to Andrew Johnson, Chief Underwriting Officer for Casualty and Programs in Canada.
Andrew Johnson expressed his confidence in this strategic move, stating, “Launching Environmental Impairment Liability insurance in Canada speaks to our commitment at AXIS to elevate our specialty product suite to our brokers and customers. Ludwig has exceptional knowledge of the EIL landscape and deep relationships in the Canadian insurance industry. In leading our new offering, he will be an essential member of our team as we strive to be our broker partners’ number one carrier in this dynamic risk environment.”
Nagata also commented on the significance of this expansion, adding, The addition of EIL to our portfolio of insurance products will elevate and diversify AXIS Canada’s offering and provides policyholders with the option to further enhance their overall risk management strategy through our suite of complementary products.”
This expansion into the Canadian EIL market is backed by AXIS’s established Environmental team in the US, indicating a seamless integration of expertise and resources across borders.
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