Author: modula

An estimated 34 million people in the US are killed or injured each year as a result of product-related accidents, according to the Consumer Product Safety Commission. Tough products, which range from e-cigarettes to sofas and shampoo, account for more of these incidents than others; toys and playground equipment, for example, caused 524,587 injuries between 2008 and 2012, and bicycles caused 556,660.

Consumers and regulators increasingly blame companies for compromising product safety and go through the courts to seek redress. The total annual claims bill in the USA is now estimated at $12 billion. For tough products, like toys and bicycles, this has resulted in higher insurance costs and, in some cases, the inability to find cover.

RKH Specialty has launched a new facility that provides cover for tough product liability classes like these, with the ability to provide unusual or unique enhancements that assist clients in mitigating and controlling their product liability exposures. It is underwritten at Lloyd’s and offers up to $5 million capacity for any one risk.

Contact Justin Whitehead to find out mor

London, UK – 6th March 2013

Since 1995, over 15m U.S. automobiles have been recalled each year.

RKH Specialty’s leading product recall team is offering specialist auto recall insurance to global companies that supply parts to the automotive industry.

Every automobile is comprised of thousands of parts, which may have to be recalled by their customer if they fail to perform as expected, or could be subject to a forced safety recall by organisations such as the National Highway Traffic Safety Administration.

For the suppliers who make these parts, auto recall insurance, providing product guarantee cover, contributes to their financial sustainability as well as providing reassurance to their customers. RKH Specialty Head of Product Recall Mark Colgate commented, ‘As the economy has struggled, we have seen product recall insurance increasingly become part of the contractual obligations imposed on the parts supplier.’

The insurance available covers first and third party recall expenses, costs associated with advertising and communication, disposal, extra staff and transportation requirements as well as replacement expenses, including reinstallation. There is also an option to purchase a customer financial loss extension.

Please contact the Product Recall team, product.recall@rkhspecialty.com, to find out more.

London, UK – 2nd October 2012

RKH Specialty and Conosur Corredores de Seguros Y Reaseguros (Conosur) have reached an exclusive agreement to cooperate on all new business emanating from Chile. The agreement covers both insurance and reinsurance opportunities that require international market placements.

Conosur is Chile’s largest independently owned broker. Its association with RKH Specialty builds on an existing relationship between the firms and recognises a growing need from Conosur’s Chile-based clients to access international insurance markets to provide a wide range of specialist insurance and reinsurance products.

Chile is consistently ranked as one of Latin America’s most stable and prosperous nations with high per capita GDP and a long term focus on developing global trade links. It was the first Latin American nation to join the OECD in May 2010.

Commenting on the association, Barnaby Rugge-Price, Head of Property & Casualty at RKH Specialty said: “RKH Specialty has always looked to partner with leading independent brokers to combine their regional knowledge with our expertise in specialist global markets. It provides a strong basis for the development of relationships products and services that stand the test of time.”

Alberto Covarrubias, Managing Director of Conosur Insurance Brokers added: “There is strong momentum behind economic growth in Latin America generally and Chile in particular, so our clients increasingly compete in a global arena. With RKH Specialty’s support in international markets, the combined experience, expertise and innovation we bring ensure they can compete with even greater confidence and success.”

London, UK – 10th September 2012

RKH Specialty scoops Broker of the Year accolade.

On Thursday 6 September RKH Specialty was recognised as Broker of the Year at the inaugural Insurance Insider Honours.

The awards were judged by a panel of industry experts, including Rolf Tolle, former Lloyd’s Franchise Director, and Jim Bryce, non-executive director of CV Starr Managing General Agency. They examined the short listed brokers’ financial performance and growth, as well as other business initiatives and the delivery of client service to decide on their winner. RKH Specialty’s record of sustained growth through a client focused expansion of specialist products and services saw us beat off stiff competition from Aon Benfield, Guy Carpenter and Howden to take the award.

We are very proud to have received this recognition of our progress in building one of the UK’s leading, independent, specialist insurance brokers.