#United States #Kansas City #Financial Services #Lockton #Professional Risk

Lockton's New Professional and Executive Risk Division

Lockton, recognized as the world's largest independent insurance brokerage, has recently announced a pivotal shift in its business strategy by launching the Professional and Executive Risk division. This strategic initiative aims to unify the existing Lockton Financial Services (LFS) teams operating within the USA and the International ProFin under a consolidated global framework.

With this integration, Lockton strengthens its position by harnessing the expertise of over 750 talented professionals across the globe. This new division is set to enhance Lockton's ability to deliver top-notch client value through a streamlined and efficient service model.

A New Era in Risk Management

In the rapidly evolving landscape of global business, organizations are constantly inundated with complex risks related to professional and executive liabilities. The establishment of the Professional and Executive Risk team aims to address these challenges head-on. Devin Beresheim, Executive Vice President and Head of Professional and Executive Risks at Lockton, emphasizes that the need for a trusted partner capable of comprehensively understanding and managing risks has never been greater. "Today, companies require a partner that comprehensively understands their risks and offers tailored solutions," Beresheim stated during the announcement.

By leveraging a globally interconnected team, Lockton is poised to facilitate greater knowledge sharing across regions, deeper risk exploration, and improved anticipatory responses to emerging threats—ultimately enabling their clients to focus on business development without being hindered by potential risk factors.

Comprehensive Coverage Across Industries

Lockton's Professional and Executive Risk division is designed to provide extensive services to clients across various sectors. The team specializes in global insurance brokerage, risk advisory, and claims support in all key areas of financial and professional liability insurance. Specific areas of expertise include:

• - Directors and Officers Liability: Protecting corporate leaders against claims arising from their decisions.
• - Cyber Liability: Addressing the financial ramifications of cyberattacks and data breaches.
• - Errors and Omissions Insurance: Covering professionals against claims of inadequate work or negligent actions.
• - Employment Practices Liability Insurance: Protecting organizations against workplace-related legal risks.
• - Crime Insurance: Safeguarding against fraudulent actions and misconduct.
• - Agent Liability: Responsibility coverage for representatives under specific legal conditions.
• - Digital Assets Insurance: Covering innovative and evolving digital products and currencies.

Commitment to Continuous Improvement

Lockton’s steadfast commitment to continuously improving service standards is reflected in the establishment of this unified division. As Leo Flindall, the UK Director of Professional and Executive Risk at Lockton, remarked, "The formation of this integrated team marks a milestone for Lockton, showcasing our ongoing dedication to enhancing client service levels."

The initiative represents a significant transformation for Lockton, aligning its operations more closely with the modern requirements of today’s international business climate.

Conclusion

By merging its financial services and international teams into the new Professional and Executive Risk division, Lockton is clearly setting itself apart from competitors by providing tailored insurance solutions that address contemporary challenges. Through strategic integration and a focus on client needs, Lockton is not only redefining the landscape of risk management but also reaffirming its place as a leader in the insurance brokerage sector. As global risks continue to evolve, organizations can find reassurance in Lockton's expertise and commitment to excellence, ultimately allowing them to thrive in a more secure business environment.