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Allianz Global Corporate & Specialty (AGCS) Strengthens London Product Recall team

London– October 4, 2017: Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has expanded its crisis management team with the appointment of Simon Weaver to the role of Senior Underwriter for product recall for regional unit London (RUL), which includes the UK, Ireland, Dubai, Russia, the Nordic Region, Australia and New Zealand.  Based in London and reporting to Stewart Eaton, Regional Head of Product Recall, Simon brings extensive expertise to the team.

Simon Weaver joins after over a decade working at global risk consulting firm red24. Over the last number of years, Simon assisted with the development of red24’s Product Risks division specializing in the provision of auditing, training, testing and 24/7 crisis incident solutions. In his role as Commercial Manager, Simon was involved in developing the global consultant network as well as managing all commercial activities with clients to include insurance, food and beverage, consumer goods and auto component clients. Simon has been involved in supporting the management of a number of complex recall cases to include the horsemeat scandal in 2013 as well as a number of large contamination and malicious tamper related issues. Simon regularly speaks at industry events on issues including product recall trends.

Commenting, Stewart Eaton, AGCS Regional Head of Product Recall said: “Simon will add significant experience and expertise to the London team. Product recalls are on the increase across a diverse range of industry sectors: Defective products or work are the largest cause of liability loss for businesses, accounting for near to half (43%) of the value of all claims in the UK, according to the recent AGCS Global Claims Review: Liability in Focus [1]. Clients are now in greater need of solutions that really address these evolving risks and protect their businesses.”

“We have designed our product recall insurance coverage and crisis response to meet the increasing regulation, supply chain complexity and reputational risks that businesses face,” said Christof Bentele, AGCS Head of Global Crisis Management. “As a key part of the Product Recall team, Simon will focus on a range of recall risks across industries including food and drink, automotive, pharmaceutical and consumer durables. The capabilities Simon brings, with strong client relationship skills and understanding of risk, will add to our depth of expertise. Clients will benefit from  market leading capacity, a 24/7 response consultancy service provided by our strategic partner red24 and the reassurance that comes with having a product that provides real balance sheet protection as well as brand reputation cover, should the worst happen.”

 


[1] The AGCS Global Claims Review analyzes over 100,000 corporate liability insurance claims from more than 100 countries, with a total value of €8.85bn (US$9.3bn), paid by AGCS, and other insurers, between 2011 and 2016. Over 80% of losses arise from ten causes.

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