NuVenture launches product recall MGA

NuVenture International, which incubates and supports managing general agents, has launched BluNiche, an MGA specialising in product recall cover. Capacity is provided by Chaucer Syndicate 1084. BluNiche was founded by Neil Evans, who was most recently senior class underwriter, crisis management, at Talbot Underwriting.

Andy Colbran (pictured), CEO at NuVenture, said: “BluNiche is the third MGA launched by NuVenture and we’re delighted to bring an alternative to incumbent markets in the product recall space. Neil Evans is a highly respected market leader with an impressive track record, knowledge and experience to build a meaningful and profitable portfolio and create value for BluNiche’s capacity providers.”

Evans added: “The product recall insurance market is extremely specialist but has not always been able to make the best use of data to inform the risk selection process. In launching BluNiche, I aim to change that by employing the latest tech and systems to streamline the underwriting process.”

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