Press release
Cincinnati Global Adds Two New Lines of Business
CINCINNATI, Nov. 4, 2020 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that its London-based global specialty underwriting
About this update from Cincinnati Financial Corporation
[{"type":"text","content":"CINCINNATI, Nov. 4, 2020 /PRNewswire/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that its London-based global specialty underwriting subsidiary, Cincinnati Global Underwriting Ltd.™, will begin writing two new lines of business: Contingency and Specie.\nContingency insurance covers film and entertainment risks, such as: insuring film and TV production for their props, sets, wardrobe and filming equipment; providing peace of mind that productions are completed within budget and delivered on time; and offering event cancellation for tradeshows, conferences, exhibitions, sporting events, theatrical performances, concerts and music festivals. \nA Specie portfolio includes coverage for theft or loss of high-value portable property including fine art, jewelry, gold bullion and cash in transit.\nFrancis Hernandez joined Cincinnati Global as Head of Contingency on November 2. Hernandez began working in the insurance industry in 1988, specializing in Contingency since 1993. He has experience building profitable portfolios of entertainment business as an underwriter and a broker. Hernandez most recently headed Chubb's successful International Film & Entertainment Division. \nIan Seakens will also be joining Cincinnati Global as Head of Specie in early 2021. He brings with him 35 years of industry experience in Specie and Specialty Lines insurance. Seakens joins from AEGIS London where he worked for the last 10 years building an excellent reputation as a lead underwriter in the London market. Until Seakens joins the company, the Specie portfolio will be run by experienced underwriter Charlotte McIntyre, who also recently joined the Cincinnati Global team from AEGIS London.\nCincinnati Global Director of Corporate Development Kevin Timmons stated: \"We are delighted that Frankie, Ian and Charlotte are joining our expanding team. We have identified Contingency and Specie as historically profitable classes of business through which we can grow and provide excellent service to clients and brokers. Following CGU's acquisition by Cincinnati Financial Corporation, we announced our intention to diversify our underwriting through the addition of new specialty classes of business. We believe Frankie and Ian's lead underwriting capability will enable us to meet these objectives and facilitate future profitable growth.\"\nAbout...