Reinsurance News

Lloyd’s approves product recall insurer BluNiche as coverholder in Europe

10th August 2022 - Author: Kassandra Jimenez-Sanchez

MGA accelerator DA Strategy has announced that their client BluNiche, a specialist product recall coverholder for the automotive and food industries, has been approved by Lloyd’s as a coverholder.

europe-mapAccording to the announcement, DA Strategy will be providing licensing, launch advice and European approval to allow BluNiche to become an Authorised Representative of DA Strategy in the UK.

Additionally, it will also be trading under a global licence as part of DA Strategy Global GmbH through its dedicated European platform.

Charles Rowley, Chief Executive Officer of DA Strategy commented: “As a leading consultant to the London insurance market specialising in delegated authority business, we are delighted to support BluNiche under our tried and trusted MGA Accelerator programme, whereby DA Strategy provides MGAs with access to EU, UK and ROW business quickly, seamlessly and efficiently, together with the specialised support they require.”

BluNiche offers specialist product recall insurance, they provide clients with balance sheet protection and crisis management in the event of a product recall.

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Its clients include companies in the industry sectors, including food and beverage manufacturers, auto component manufacturers, restaurants, packaging, retailers, finished goods and consumer durables.

Neil Evans, Managing Director at BluNiche Risk Services Limited said:“As a specialist Product Recall coverholder, we only offer this class of insurance. We’re fully-focused on developing innovative and flexible protection for brokers and their clients which we now look to bring to the European arena.

“Working with Charles and his specialist team has enabled BluNiche to concentrate on expansion of the business, and to leverage the huge opportunities that lie ahead of us, secure in the knowledge that all legal, regulatory and reporting protocols – areas where we are not experts – are being handled and put in place by them.

“Access to Europe will prove invaluable to us, and we’re very grateful to DA Strategy for instigating the right relationships to securing the correct capacity. This will allow us to deliver our data-driven underwriting to a new market – DA Strategy’s support with our journey has been critical to its success.”

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