Arch Insurance International has established a new transport and logistics insurance division to offer a range of marine and P&C insurance solutions for the logistics and cargo sectors, worldwide.

The new unit will also provide packaged insurance products specifically designed for companies operating in the third-party logistics sector. These include contractual or professional liability, shipper’s interest cargo, and property and equipment cover.

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Arch has appointed Steve O’Gorman as the head of Transport and Logistics.

O’Gorman, who has worked for over 35 years across the global cargo and logistics space, will oversee the development of a diverse and sustainable portfolio of business. He has also been tasked with bringing out new offerings to the market.

He will report to Arch Syndicate 2012 active underwriter and head of Fine Art & Specie James Croome.

Commenting on the development, Croome said: “The launch of the transport and logistics division is a significant step for Arch given the growth potential we see in the sector. We believe that our ability to provide the breadth of cover – whether individual products or packaged solutions – through a single dedicated operation focused exclusively on the individual client will prove a winning market proposition.”

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O’Gorman added: “We are excited about the potential to deliver market-advancing products in the cargo and logistics space. Our aim is to combine our market experience and technical underwriting expertise with data informed insight to deliver the scope and quality of products that this evolving marketplace requires.”

Recent developments at Arch

Last month, Arch launched an online platform that allows brokers to streamline the pricing and purchase of Business Travel Accident (BTA) Insurance.

In January, the insurer entered the consumer product and home warranty markets of North America by launching a new offering.

Last November, Arch Insurance introduced new terrorism insurance for small and medium-sized companies in the country.