London-based Oxygen Insurance Brokers, the Lloyd’s broking operation of Oxygen Holdings Plc, announced the creation of a new management risk practice (known in the U.S. as directors and officers liability – D&O) to focus on commercial and financial institutional clients.
“The practice will be headed by Calvin Barnes upon his arrival from Heath Lambert Financial & Professional Risks, and will deliver insurance solutions in the commercial and asset management sectors,” said the announcement. “Calvin will be joined by two of his colleagues from his former home, Alexei Abbott and Drew Harvey. As well as focusing on their core practice relating to directors & officers’ liability insurance, the team will also offer a range of tailored insurance products relating to, amongst other things, the Public Offering of Securities, Errors and Omissions, Crime, Pension Trustee Liability, and Employment Practice Liability.”
Commenting on the new coverages CEO Nigel Barton stated: “The exposure that directors face from the development of corporate governance is proving a minefield for clients, many of whom are in need of skilled advice. Calvin and his team are specialists in this field and have a proven track record of not simply giving off the shelf products to their clients, but instead, listening carefully and tailoring their products appropriately. This sector fits perfectly with the current line-up of specialty classes in which Oxygen have chosen to operate.”
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