24 Jul 15: Specialist lines underwriting agency, CFC has appointed Natasha Catchpole to build a new team focused on developing product recall solutions.
Formerly an underwriter at Ark Syndicate Management where she spent just over three years writing product contamination and product recall business, Natasha has been working in the London insurance market for over 20 years. Previous roles include almost five years as an underwriter at XL Insurance specialising in product recall and over four years at QBE focused on D&O and management liability.
Andrew Holmes, CFC’s Chief Underwriting Officer, says: “The risk of a product recall has increased exponentially in recent years as global regulatory standards have increased in number and new product safety rules are implemented. Good news for consumers of course, however it means that food and beverage companies and manufacturers and distributors of component parts, amongst others, have ever more stringent obligations. The challenge is even greater for those that operate across multiple regions around the world. Regardless of varying global standards, mistakes will inevitably occur and the lack of adequate product recall coverage can have devastating consequences.
“We believe there are tremendous opportunities for CFC to build a new line of business, blending this cover with some of our existing products as well as creating standalone cover. Natasha has extensive experience in this class and we’re looking forward to welcoming her on board to help us develop a profitable new niche area.”