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Axon announced the addition of renewal portfolio of AGCS

August 04, 2020 / Insurance Business

Axon Underwriting Services has announced the acquisition of the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) US contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Company.We at Axon Crisis Management are excited to obtain the renewal rights for contaminated products and consumer products recall insurance policies previously underwritten by AGCS in the United States,” said Alex Pittignano, senior vice president at Axon. “Our staff of experienced recall underwriters is prepared to ensure a smooth renewal for clients during this transition.Axon expanded its suite of specialized insurance products in January with the addition of underwriting capabilities to offer contaminated product recall, consumer goods product recall, and restaurant foodborne illness and contamination insurance. All three will be underwritten on a non-admitted basis in partnership with the E&S and specialty companies of Nationwide. They will offer a capacity of $10 million.