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New Dawn Risk launches on the ground in Asia with new partnership

New Dawn Risk Group Limited, the international specialist insurance intermediary, has announced it is entering into a partnership with Singapore-based SpecialistRe, to strengthen its reach and offering across China, Japan and South-East Asia.

Max Carter, CEO of New Dawn Risk, commented: “At this time of unprecedented change, Asia is powering growth in the global insurance industry. We have been tracking opportunities in the region for some time, and our new partnership with SpecialistRe – a well-established presence in Singapore – will help us to deliver experienced expertise for treaty reinsurance in the specialty space. As we further extend our international footprint so we can best meet the evolving needs of cedants and reinsurers, we will continue to maintain our core focus on professional indemnity, financial and specialty liability lines, as well as accident & health, both on the direct and on the reinsurance sides.”

SpecialistRe was originally established in Malaysia and has been operating in Singapore since 2015 as an advisory and consulting firm with a strong focus on treaty reinsurance. SpecialistRe utilises technology in association with its insurtech partners to provide fast and innovative risk transfer arrangements for its network of cedants across Asia. 

Andrew Harris, Managing Director at SpecialistRe, said: “We are delighted to be partnering with New Dawn Risk at this time of evolving change in the reinsurance market. The ability to provide independent treaty capability in these specialist growth areas is an exciting development that will allow us to broaden the range of solutions we can provide to clients.”   

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary and a Lloyd’s broker providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

For further information contact: Victoria Sisson, Luther Pendragon, +44 7941 294872

New Dawn Risk Group Limited, the international specialist insurance intermediary, has announced the recent appointment of Charlie Mills as Senior Broker in its Management Liability and Financial Institutions team. 

Max Carter, CEO of New Dawn Risk, commented: “At this time of unprecedented turmoil, much of the immediate attention in the insurance industry has been centred on business interruption insurance, but there is a longer tail of impact that sits across the liability spectrum, and will be seen clearly in classes including D&O. As they navigate their way through this challenging environment, clients need strong, close relationships with experienced and dynamic brokers who can deliver them the solutions they need.”

Charlie joins New Dawn from The Hartford where he was a Financial Institutions Underwriter. Prior to that he held roles at Tokio Marine HCC and Sompo Japan Nipponkoa. He holds an honours degree in Environment and Business from the University of Leeds.

Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk has become a member of a/e ProNet, a leading network of independent insurance brokers specializing in the professional liability insurance and risk management needs of professional architects and engineers in the US. Membership of a/e ProNet is by invitation only.

Max Carter, CEO of New Dawn Risk, said: “This is a critical time for architects and engineers in the US. Even before the COVID-19 outbreak we were seeing upward pressure on premiums combined with an increase in both the volume and severity of claims, due in part to legal costs and awards inflation. Now those pressures are even greater, so there has never been a better time for us to share our expertise and creativity in professional liability risks with the US design industry.”

Dave Johnston, Executive Director of a/e ProNet, said: “We are delighted to welcome New Dawn Risk to the network. Their experience in placing complex liability and other specialty risks in all major markets worldwide will benefit our members as well as architects and engineers looking for risk transfer solutions across the US.”

Find out more about a/e ProNet at https://aepronet.org/

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Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk Group Limited has today launched its white paper analysing insurance cover for the US legal cannabis, CBD and hemp markets.

Download the white paper here.

The report: “Understanding and opening up the US cannabis insurance market”, exposes both the potential premiums and the size of the insurance gap for cannabis-related products in the US.  Headline statistics include:

  • In 2018 sales of medical and recreational cannabis in the U.S. were nearly nine times higher than sales of Oreo cookies.
  • The legal US cannabis industry would pay about $1 billion in annual premiums were it insured to levels normal for other businesses.
  • In 2018 the US market saw an estimated $8 billion in legalized cannabis sales. This could rise to over $40 billion by 2025.

The report also looks at the challenging legal environment for insurers, discusses possible coverage solutions and analyses the issues for each category of insurance cover, including: D&O, cyber, product liability, workers compensation, cash and contents insurance, crop insurance and fleet auto and cargo.

Max Carter, CEO of New Dawn Risk, commented: “Legal cannabis is a rapidly growing market, currently with a legal foothold in over thirty US states.  Right now, the COVID-19 outbreak has led to increased demand for cannabis in the US and stores in many states have been allowed to reopen or offer curbside sales.  However, the crisis has also exposed the financial pressures on many cannabis firms, with many VC-backed cannabis firms struggling already to meet financial projections.  A COVID-19 recession, which seems all but a certainty, will only increase such financial pressures for young cannabis businesses.

“The pandemic will make it even tougher for cannabis producers to obtain insurance as providers further tighten terms and conditions and introduce exclusions, while insurers who may have been looking to enter the marker will put their plans on hold.  With the Federal Government shut down and the possibility of a change of administration in November’s presidential election, the progress of legislation that would open up the cannabis market to insurers will be delayed.

“This reality fails to reflect the fact that many firms have significant insurance needs that are critical to help them manage the risks that exist in this young industry, with its untried legal and societal framework. 

“Despite all this, the growth of the sector is inexorable and New Dawn Risk is committed to working with carriers and clients to share knowledge and insights to help identify and deliver creative solutions for this market. In just one example, we have already successfully placed cyber cover for a number of cannabis businesses. But we want to do more. And that means furthering the discussion, which is where we hope this report can contribute.” 


Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

For the time being, while the infection risks from COVID 19 are high, and in line with government advice, we have taken the decision to switch all the New Dawn Risk team to a home working protocol. 

The good news is that we have upgraded the quality of our remote working facilities across the board, with this eventuality in mind. This means that our entire team will still be accessible on their office phone numbers (or via their mobiles), by email and by videoconference (using Microsoft Teams, or indeed any other videoconference channel). 

Both we and the London Market remain very much open for business, and we are in continuous contact with our underwriters. If you are having trouble connecting with London insurers through other channels, I have no doubt that we can assist. Please feel free to call or email any of us. You can find phone numbers and email addresses here:
https://www.newdawnrisk.com/our-people/

We look forward to working with you in new ways, via conference calls and videoconferences, for as long as the health issues remain significant.

Stay safe and healthy!

Max Carter, CEO at New Dawn Risk

New Dawn Risk Group Limited, the international specialist insurance intermediary, announced today the appointment of Rachel Cohen as a Senior Treaty Broker.

Max Carter, CEO of New Dawn Risk, commented: “Over the last decade we have built a robust treaty business and a strong offering in multiple markets. As we embark on the next phase of growth, Rachel’s appointment helps to further strengthen our team and ensure that we can offer cedants an even more valuable proposition.” 

Rachel has over 10 years of underwriting experience in the casualty reinsurance sector both internationally and in the UK. Prior to joining New Dawn Risk she was most recently a Class Underwriter of International Casualty Treaty at Barbican Syndicate at Lloyd’s 1955. Rachel graduated from the University of Manchester with a BSc degree in Business Management, she is ACII qualified and a committee member of the Under 35’s Reinsurance Group with a  focus on education and training events where she organises and attends international market visits and runs seminars on reinsurance treaty pricing for the underwriters and brokers in the U35 group.

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Notes to Editors
Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk announced today the strengthening of its senior team with the appointment of Nicky Stokes as Head of Management Liability and Financial Institutions. 

Max Carter, CEO of New Dawn Risk, commented: “With rates increasing dramatically in all regions for D&O and financial institutions insurance, clients need experienced brokers to ensure that they are getting the best possible results in an extremely challenging environment. Nicky’s breadth of international experience in both underwriting and broking will help us to deliver an even more compelling proposition to our clients, wherever they operate.”

Nicky joins New Dawn from Liberty Specialty Markets in Dubai where she was AVP, Professional Indemnity with additional responsibility for the D&O, Bankers Blanket Bond and Cyber portfolio for local and international clients throughout the Middle East and Africa.

With more than 20 years’ experience in the insurance industry, she was previously based in South Africa where she held senior roles at companies including Marsh and AIG. Nicky holds an MBA from the University of Reading in the UK and a PMD from the University of Pretoria.

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Notes to Editors

Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk, the international specialist insurance intermediary, today announced the further strengthening of its team with the appointment of James Bullock-Webster as Head of Technology, Media and Cyber.

Max Carter, CEO of New Dawn Risk, said: “Clients of all types are increasingly worried about this aspect of risk and James’ appointment strengthens our ability to meet this need. His energy, creativity and expertise, combined with his experience in building innovative products to address changing client needs, make him an ideal fit for New Dawn Risk. As well as taking responsibility for our book of IT and media risks and existing international cyber liability offering, he will work closely with the team rolling out our new online cyber insurance product for UK businesses.”

James joins New Dawn Risk from Paragon International Insurance Brokers where he spent the last four years as a wholesale and retail broker. Prior to this role James served in the British Army for eleven years, where he rose to the rank of Major. He is CII qualified, holds an Extended Diploma in Strategic Management & Leadership from the Defence Academy United Kingdom, completed leadership and management training at the Royal Military Academy Sandhurst, and holds a BA (Hons) in Ancient History and Archaeology from the University of Newcastle Upon Tyne.

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Notes to Editors
Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk, the international specialist insurance intermediary, today announced the launch of its UK Cyber Insurance product. Delivered through an easy-to-use online platform to small and medium-sized enterprises, or face-to-face to larger businesses or those with more complex needs, the new offering complements New Dawn’s existing cyber liability offering for international clients.

Max Carter, CEO of New Dawn Risk, said: “The SME segment in the UK is as prone to a data breach or cyber attack as larger businesses, but finds it much harder to buy the right cover for their needs. Our objective is to make dealing with a complex risk as simple as possible – available to buy online in minutes, at any time of the day. Most importantly, it provides the 24/7 breach response businesses need to minimise damage and help them get back on their feet following data breaches and cyber attacks.”

New Dawn’s UK Cyber Insurance uses easy-to-understand language to enable companies to make an informed decision. The product has been designed with low premiums, no hidden charges and free cancellation. Key features include immediate access to a cyber response manager who will coordinate appropriate experts in IT crisis management and forensics, PR, legal, regulator / data subject notification, and credit monitoring.

Tom Malcolm, Head of UK Cyber, said: “Businesses of every size and in every industry that hold sensitive information on their employees and clients, or rely on computer systems to operate their business, are at risk. Insurance – in conjunction with cyber awareness and security – is a vital element of protection.”

To find out more visit www.newdawncyber.co.uk

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Notes to Editors
Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.

New Dawn Risk Group Limited announced today the appointment of Dermot Dick as Head of Treaty Production. Dermot was most recently Chief Underwriting Officer at Emirates International and his appointment is immediate.                     

Max Carter, CEO of New Dawn Risk, commented: “Over the last decade we have built a robust treaty business and a strong offering in the Middle East, Africa and Asia. Dermot’s depth of experience in those regions, the strength of his relationships and in-depth knowledge means we are able to offer cedants an even more valuable proposition.” 

Dermot Dick added “It is very exciting to be joining New Dawn Risk at such a pivotal moment in their development and be part of the next phase of their growth.  I have watched their progress with interest and admiration and am confident that we are offering a credible and innovative alternative to the big players and access to key developing markets. We will grow that footprint across all emerging markets worldwide and encompass all treaty classes to add to our speciality expertise.”

Prior to joining New Dawn, Dermot was CUO of Emirates International, SVP at XL Re in London underwriting a book of Middle Eastern reinsurance business and Chief Executive of QRe in Qatar.

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Notes to Editors
Established in 2008, New Dawn Risk is a dynamic, specialist insurance intermediary providing bespoke advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims. 95% of our business emanates from outside the United Kingdom.