Somerville, NJ – Axon Underwriting Services LLC, a leading specialty lines Program Administrator, is pleased to announce the acquisition of the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) U.S. Contaminated and Consumer Products Recall Insurance business written through Allianz Global Risks US Insurance Company.
“We at Axon Crisis Management are excited to obtain the renewal rights for Contaminated Products and Consumer Products Recall Insurance Policies previously underwritten by AGCS in the United States”, said Alex Pittignano, Senior Vice President at Axon. “Our staff of experienced recall underwriters are prepared to ensure a smooth renewal for clients during this transition.”
Axon Underwriting expanded their suite of best-in-class specialized insurance products in January 2020 with the underwriting capabilities to offer Contaminated Product Recall, Consumer Goods Product Recall, and Restaurant Foodborne Illness & Contamination insurance. All three products will be underwritten on a non-admitted basis in partnership with the E&S/Specialty companies of Nationwide®, a Fortune 100 company (A+:AM Best; A+:S&P; A1:Moody’s), and will offer a capacity of USD $10 million.
Marcos Garcia Norris, Senior Vice President at Axon said “companies that choose to renew policies with Axon will benefit not only from an overall smooth transition, including the knowledge of their renewals by the Axon underwriters, but also from Axon’s best-in-class underwriting capabilities, dedicated claims handling, and very solid financial strength. For Axon, this opportunity helps further position us as a leading Crisis Management insurance company and supports our strategy of expanding our customer base in the U.S.”
About Axon Underwriting Services LLC
Axon Underwriting Services LLC is a Program Administrator and Service Provider formed in 2013 by brokerage and underwriting experts to raise the bar in business insurance performance. Their professionals’ extensive understanding of industry-specific exposures, markets and programs enables them to provide comprehensive insurance based products and solutions for their select partners. Please visit www.axonu.com or call them at (908) 947-0867 to learn more.