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Swiss Insurer launches global crisis management division

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Allied World Assurance Co. Holdings A.G. said Wednesday that it has launched a global crisis management division comprised of structured trade credit, political risk, multi-buyer trade credit and product recall.

The crisis management division will offer coverage that helps organizations prepare for and recover from issues that can threaten an organization’s brand, reputation, finances, and operations, Zug, Switzerland-based Allied World said in the statement.

The division will operate under leadership of Todd Germano, who serves as executive vice president. Bill Mullan is senior vice president and chief credit officer. Nick Hedley and Kent Paisley are senior vice presidents, according to the statement.

“We have made a significant investment in building this comprehensive crisis management platform which will be led by four industry veterans with extensive expertise in their sectors. The risk landscape is dynamic and continually evolving, and through this new group, we will offer solutions-based underwriting for an optimal level of customization,” Mr. Germano said in the statement.