XL Insurance creates department for unique, complex risks

HAMILTON, Bermuda—XL Insurance (Bermuda) Ltd. on Monday said it has created a new department within its professional lines unit to handle unique and complex insurance risks.

The department, CSI-Complex Situational Insurance, to be headed by James Loder, will focus on the creation of novel solutions for complex and “one-off” nontraditional insurance risks, as well as transactional and contingent liability exposures.

Responsibilities of the Bermuda-based Mr. Loder, who has been named CSI senior vp and chief underwriting officer, will include development of a portfolio of unique risks that fall outside the mainstream insurance marketplace; development and implementation of new or modified underwriting strategies; and leading a team of underwriters, analysts, chartered accountants, attorneys and other professionals, according to XL.

XL Insurance (Bermuda) is a unit of Dublin-based XL Group P.L.C.