Everest Insurance Ireland announces UK expansion

Insurance Business America | April 19, 2019

A Dublin-based specialty insurance company has announced its expansion in the United Kingdom. Everest Insurance Ireland (EIID), part of the Everest Insurance International platform, has opened a new branch office in the UK. EIID was established in 2017 and is led by its CEO, Linda Ryan, who manages the strategy and operational development of the company. The UK branch is authorised to write general insurance classes including goods in transit, fire and natural forces, damage to property, general liability, credit, suretyship, and miscellaneous financial loss. “After a successful launch in Dublin, we are looking forward to expanding to the United Kingdom,” Ryan said. “We are confident that our innovative products, flexibility, and knowledgeable underwriters will be a great asset to our new United Kingdom clients.” “This is an important step as Everest continues to expand our international capabilities,” said Vincent Vandendael, Everest Insurance International CEO.

Spotlight

Insurance companies should consider the possibility that 10 percent to 20 percent of all claims may be fraudulent. The impact is enormous. Fraud losses weaken an insurer’s financial position and undermine its ability to offer competitive rates and to underwrite reputable and potentially profitable business. For policyholders, fraud losses lead to higher premiums. In this supposedly victimless crime, everybody ends up paying the price. Governments have responded with new regulations and centralized fraud bureaus. Insurance companies have responded by establishing special investigative units (SIUs) armed with computer-based tools to detect and prevent fraud. Yet the problem continues to grow, and in recent years, it has grown significantly.

Spotlight

Insurance companies should consider the possibility that 10 percent to 20 percent of all claims may be fraudulent. The impact is enormous. Fraud losses weaken an insurer’s financial position and undermine its ability to offer competitive rates and to underwrite reputable and potentially profitable business. For policyholders, fraud losses lead to higher premiums. In this supposedly victimless crime, everybody ends up paying the price. Governments have responded with new regulations and centralized fraud bureaus. Insurance companies have responded by establishing special investigative units (SIUs) armed with computer-based tools to detect and prevent fraud. Yet the problem continues to grow, and in recent years, it has grown significantly.

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