Arch hires Beazley E&S property head Morrello

Arch Insurance has bolstered its E&S business with the hire of property specialist Joe Morrello from Beazley.

Morrello spent over five years at Beazley, and served as head of E&S property and high value homeowners.

During his more than 35-year career, Morrello has also worked for Axis and various FM Global-related entities.

At Arch Insurance, Morrello has been appointed senior vice president, E&S property. He reports to Valerie Turpin, executive vice president and head of US property.

Arch Insurance’s E&S property business is able to offer limits of up to $25mn, with minimum premiums in place of $20,000, although that increases to $25,000 for higher hazard facilities.

The carrier provides coverage for a wide range of E&S property risks including those exposed to cat perils, construction, entertainment complexes such as theatres, hospitals and nursing homes, hotels, restaurants and country clubs, places of worship, real estate schedules, school, colleges and universities, as well as warehouses and vacant buildings, among others.

It can write coverage on a primary, ground-up or excess basis, as well as shared and layered.

The carrier will write on a single peril or difference in conditions (DIC) basis for cat-exposed risks.

It will write lower hazard builders’ risk business, and it also has a higher hazard facility that offers coverage to primary residential and higher hazard non-cat occupancies.

Coverage is available on an all risks and single peril/DIC basis for quake, flood or wind.

Equipment breakdown is written as an additional coverage, with deductible buybacks available for wind, quake and flood.

Coverage is distributed through a select group of wholesale producers.