Corporate round-up

Andrew Chester named CEO of Bowring Marsh Marsh has appointed Andrew Chester as CEO of Bowring Marsh, its specialist international placement broking division. Mr Chester, who replaces Nick Bacon, will also retain his responsibilities as chairman of Marsh's Global Mining Practice. He will take up his position on October 1 and continue to be based in London. Mr Bacon is leaving to pursue other opportunities following a 26-year career at the firm.hideDavid Batchelor, President of Marsh's International Division, said: "Andrew is extremely well qualified for this role, having worked in the London and international insurance market for over 25 years, almost all of which have been at Marsh. As head of Bowring Marsh's operations in the UK & Ireland over the last three years, he has been closely involved in developing our offering to clients around the world. As someone who has worked with some of the world's largest multinational companies to develop and execute complex and detailed risk transfer strategies, he is ideally suited to take Bowring Marsh to the next stage in its development." Chartis launches CyberEdge in Europe to protect against data loss Chartis has launched CyberEdge across 17 European countries to help organisations mitigate the threats of data leaks and breaches. The new product aims to protect against a range of cyber threats for companies that deal with electronic information, ranging from data liability and breach notification costs to network interruption and cyber extortion. It provides tailored third and first party coverages and specialist advice to prevent lasting financial and corporate damage, said the insurer. "While companies understand the threat of a cyber attack or data breach, many remain unaware that the key to handling a data breach, to minimise financial loss and reputational damage, hinges on the speed and quality of response," said Jamie Bouloux, Cyber Liability Underwriting Manager at Chartis in Europe. "A breach cannot be solved by financial means alone. What is required is a solution that deals with the reputational, regulatory and IT impact as well-a combination of traditional insurance cover and professional consultancy." As well as offering relevant cover, via CyberEdge Chartis will partner with a number of specialist firms to provide IT forensics, legal advice and reputation management. Consultants will help buyers of cover to identify the extent of the security breach, return the client's IT infrastructure to a stable and secure state and ensure necessary steps are taken to mitigate future attacks and the associated impacts, explained the insurer. CyberEdge also provides crisis management provided by partner companies to help safeguard and rebuild a company's reputation. Mr Bouloux continued; "The imminent implementation of the new European Data Protection Framework puts the onus on all companies to notify affected individuals when there is a data breach and also imposes significant fines on companies for non compliance to the new laws. This creates logistical, reputational and financial issues". Towers Watson and MDS establish joint Portuguese benefits brokerage and consulting service Professional services firms Towers Watson and broker MDS have entered a joint venture to establish a benefits brokerage and consulting service in Portugal. The strategic alliance aims to provide 'intelligence and capabilities' to respond to the rapidly evolving and complex employee benefits landscape in the country, said the firms in a statement. The combined operation will join Towers Watson's consulting expertise in pensions, health care and risk management with MDS's experience as an employee benefits broker. Frederico Jorge, Managing Consultant in Portugal at Towers Watson, said: "We are delighted to be able to offer a more comprehensive service to clients through this alliance, which combines specialist resources from both firms and significant knowledge and experience of the Portuguese market." Ricardo Pinto dos Santos, Board Member of MDS, said: "The partnership with Towers Watson reflects the need to be focused on providing specialist consulting services in the benefits area, especially in the current economic climate." The joint venture comes into effect this month and each company will provide two supervisory board members and one staff member. Clyde & Co expands corporate insurance practice with new French partner Clyde & Co has expanded its global corporate insurance practice with the appointment of Yannis Samothrakis as a partner in Paris. He joins Clyde & Co from Dewey & LeBoeuf where he was also a partner. Mr Samothrakis will advise clients on domestic and European regulatory matters such as the cross-border provision of insurance services, branch business across the EU, compliance with French law provisions for European and non-European companies and issues linked to the implementation of the insurance mediation directive. He has previously also been involved in insurance litigation, arbitration and cross-border and domestic corporate operations. Mr Samothrakis has also advised insurers, reinsurers and trade associations on specific legal aspects of the Solvency II project. Clyde & Co's Global Head of Corporate Insurance Andrew Holderness said: "Insurance is a global business and by growing our corporate insurance team across key markets we continue to respond to the needs of our clients worldwide. We now have corporate insurance hubs in the US, UK, France, the Middle East/GCC, Russia, Latin America, India and Asia with real local expertise in a global context. We are delighted to welcome Yannis to the firm." Claimspro appoints Millar as MD to drive loss adjusting offering in Europe Claimspro International (CPI), an independent division of SCM Insurance Services (SCM) that offers dedicated international loss adjusting services to London and the international insurance market, has today announced the appointment of Julian Millar as its managing director. Mr Millar, who joins from QBE, will be responsible for driving the expansion of CPI's operations and business in the UK and Europe. He will report to Patrick Garuk, Chief International Development Officer, SCM Insurance Services. Mr Millar will focus on delivering growth within CPI's core business areas including international and UK commercial specialist sector loss adjusting and the Third Party Administration (TPA) sector, supporting the London market both within the UK and internationally. He will also play a lead role in coordinating the growth of London market business, in Canada and the US. Mr Millar was previously Head of Property Claims at QBE European Operations based in London. He was responsible for the management of QBE's property claims for both its Company and Syndicate operations across a wide range of classes of business and for major UK clients.

Corporate round-up

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