New JLT Product For ILS Fund Managers

03 May 2017

JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), one of the world’s leading specialty-focused providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, launches ILS Protect, the first of its kind D&O/PI and Cybercrime insurance product structured specifically for ILS fund managers. 

JLT’s Financial Institutions Practice developed ILS Protect with a panel of Lloyd’s syndicates and U.S. carriers. Today, most ILS funds are utilizing D&O and PI insurance developed for traditional investment managers and/or retail insurers. Existing policies are not structured to target the exposures of both ILS fund managers and reinsurers. Traditional D&O/PI policies do not contain terms and conditions that reflect how ILS funds operate. These gaps can create significant issues during loss and subsequent claims. 

ILS Protect is specifically designed to address these issues with simple to interpret policy language. 

"We’re thrilled to bring ILS Protect to market. Our product targets the specific liability exposure ILS fund managers face when managing reinsurance trades and catastrophe related investments. The ILS Protect is the first D&O/ PI and cybercrime solution designed especially for the ILS community," said Mark Flippen, Senior Vice President, Financial Institutions Practice at JLT Specialty USA.

“We are pleased to offer this unique product to ILS fund managers. This product highlights the benefits for our clients of our US, UK and Bermudian specialists working together,” said Paul Towler, Senior Partner, Financial Institutions Practice at JLT Specialty Limited. 

Click here for further information and product highlights on JLT’s ILS Protect.

JLT encourages any potential applicants interested in rapidly developing their careers and becoming part of its U.S. Specialty team to contact Sue Corney at 518-782-3143, sue.corney@jltholdings.com.

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JLT enquiries:

Ashely Deal, VP of Marketing | P: (310) 266-9464 | E: ashely.deal@jltus.com

Notes to editors:

About Jardine Lloyd Thompson (JLT.L)

Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.

JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.

For further information about JLT, please visit our website www.jlt.com  and follow us on LinkedIn at JLT Group and Twitter @JLTGroup.

About JLT Specialty USA

JLT Specialty USA is the U.S. platform of the leading specialty business advisory firm, Jardine Lloyd Thompson Group. Our experts have deep industry and product experience serving leading U.S. and global firms. Our key to client success is our freedom to be creative, collaborative, and analytical while challenging conventions, redefining problems, creating new analytical insights, and exploring new boundaries to deliver solutions for each client’s unique business and risks.

For further information about JLT, please visit our website www.jltus.com and follow us on LinkedIn at JLT Specialty USA and Twitter @JLTSpecialtyUSA.