AMSTERDAM--(BUSINESS WIRE)-- ANV Holdings BV, the Dutch headquartered specialty insurance business, today announced the opening of its second US Managing General Underwriter (MGU) operation. Led by media and cyber insurance pioneer Leib Dodell and based in Kansas City, Missouri, the team is focused on communications and data security risks for "Main Street" US businesses (www.anv.us.com/cybermedia). This follows the recent launch of ANV's first US MGU, focusing on D&O and other professional lines.
The Cyber.Media MGU will be backed by James River Insurance Company. The team is looking to address gaps in standard commercial insurance programs and to develop new insurance products for Main Street businesses relating to breaches of data security, advertising and communications risks, and other similar 21st century exposures.
Unlike traditional offerings in these lines, the ANV products are not targeted at media and technology companies, financial institutions, hospitals or other specialty industries. Instead, the products are designed and priced to be relevant to the needs of Main Street standard commercial businesses. The products will be distributed through agents and brokers on an individual risk basis, as well as through associations and other affinity groups.
Prior to ANV, Leib was co-founder and Chief Executive Officer of ThinkRisk Underwriting Agency, after serving as President and Chief Executive Officer of AXIS Pro (formerly Media/Professional Insurance), one of the largest underwriters of media and technology-related errors and omissions in the world. Leib will be joined at ANV by senior underwriter Jason Bucher, who also brings years of experience underwriting cyber coverages, most recently at the Insurance Services Office where he helped ISO refine its cyber-related product offerings for commercial buyers.
"As 'cyber' and media insurance continues to mature, the challenge now is to get these critical coverages and loss control services in front of small and middle-market buyers," explains R. Matthew Fairfield, Founder and Chief Executive Officer of ANV. "At ANV, we will be singularly focused on building the distribution necessary to reach these buyers, many of whom will be buying the coverage for the first time over the coming years."
"All of us at James River Insurance Company are excited about this new opportunity," said Richard Schmitzer, President and Chief Executive Officer of James River. "We think it is the right product at the right time with the right partner and we are looking forward to a successful launch and long term partnership."
ANV and its lead investor, Ontario Teachers' Pension Plan, are building a best-in-class global specialty insurance group. ANV provides underwriting for specialty risk solutions for global organizations both as a MGU as well as a risk-bearing insurer. With offices in Hong Kong, Milan, Barcelona, London, Rio de Janeiro, New Jersey and Kansas City, ANV has built a team of leading underwriting specialists focused on providing solutions for specialty risks on a global basis. For more information, visit www.anv.us.com.
About James River:
James River Insurance Company is an excess and surplus lines insurer headquartered in Richmond, VA, and serves a wide variety of industries and coverage needs. James River is owned by Franklin Holdings (Bermuda) Ltd and is assigned a Financial Strength rating of Excellent (A-) by A.M. Best Co. with a Financial Size rating of IX ($250-500 million in policyholder surplus.) For additional information, please see www.jamesriverins.com.
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