Lockton forms Professional and Executive Risk practice
Lockton has created a new practice, Lockton Professional and Executive Risk, by merging its US-based Lockton Financial Services and International ProFin teams.
This consolidation unifies more than 750 associates into a single platform, aimed at improving the delivery of client value.
The integration is expected to provide clients with 'global connectivity' to manage professional, executive, financial and cyber risks across various operations, the company said.
The practice specialises in global insurance broking, risk advisory and claims support for financial and professional insurance lines.
The new practice offers insurance solutions such as directors and officers liability, cyber risks, general partnership liability, and errors and omissions/professional indemnity.
Additionally, it also comprises employment practices liability, fidelity/crime, fiduciary liability and insurance solutions tailored for digital assets.
Lockton EVP and US head of professional and executive risk Devin Beresheim said: "In today's complex and interconnected environment, companies and their boards require a trusted partner that sees their risk holistically.
'Lockton Professional and Executive Risk delivers tailored solutions to help corporate boards and C-suite executives proactively mitigate their most pressing risks on a global level, so they can focus on growing their business.'
Lockton UK head of professional and executive risk Leo Flindall stated: 'Through our globally connected team, we can ensure even broader knowledge sharing, deeper risk insights and the ability to anticipate emerging threats with greater response and precision. The launch of this unified team is another milestone for Lockton, reflecting our commitment to continually improving our standard for client service.'
In February this year, Lockton launched the BESS Lock facility, targeting the specific needs of battery energy storage system (BESS) projects.
The BESS Lock facility aims to streamline coverage options and provide "competitive' pricing with a capacity of up to $315m.
"Lockton forms Professional and Executive Risk practice " was originally created and published by Life Insurance International, a GlobalData owned brand.
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