Weekend Update: A CEO steps down, a ‘market first’ policy and a new Aussie player

Weekend Update: A CEO steps down, a ‘market first’ policy and a new Aussie player

Weekend Update: A CEO steps down, a ‘market first’ policy and a new Aussie player Making the news this week a new international player has launched in the Australian market, a major insurer announced a ‘market first’ policy update and an industry veteran CEO has stepped down.

International underwriting agency Argenta announced that it has opened its first office in Australia this week with the launch of the business in Sydney.
Tim Higgins will lead the new operation as the business looks to strengthen its position in Asia Pacific.

Vero announced an updated policy that will see the company offer a market first when it comes to insuring drones.

The update will see the public liability cover given drone coverage as more businesses use the technology in a variety of different ways.

Finally, Paul Lynam, CEO of Pen Underwriting, has announced that he has stepped down from the business.

With more than two decades at the company, Lynam will be replaced on an interim basis by Peter Searson, until a successor can be found.