Back to news
New Dawn Risk appoints Liz Strange as Head of Strategic Development

14 October 2021

New Dawn Risk is delighted to announce the appointment of Elizabeth Strange to the new role of Head of Strategic Development within the firm. The role has been created as part of a fast-paced global expansion, which has also seen the recent establishment of New Dawn Risk Europe Ltd.

New Dawn Risk has already built out strong teams in professional liability and financial lines, and within technology, media and cyber.  The appointment of Liz as Head of Strategic Development will enable the next stage of growth for the US and International businesses and allow New Dawn Risk to further build strategic relationships with brokers on a global basis.  

Liz herself has over thirty years’ experience in the Lloyd’s market, having previously held senior positions at Hiscox, Beazley and Paragon. 

Max Carter, CEO of New Dawn Risk Group commented: “Liz will be a fantastic asset to our team. She has incredible relationships in London and the US, and her reputation in the space precedes her. I know that she is the perfect person to develop our business, to identify strategically aligned partner producers and to help fulfil our plans.”

Liz Strange, Head of Strategic Development at New Dawn Risk commented: “The specialist focus at New Dawn Risk aligns perfectly with my own experience, and I believe that together we will make a great team, targeting expansion across all regions and all lines. One of my priorities will be to build upon our high-quality and enthusiastic teams with an ambition to accelerate growth.  It is exciting to step into such a fast-moving business, and one that has huge potential to make further impact in the market.”

Notes to Editors

Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

The region’s economies have been hit hard by the pandemic, but London has the chance to take more business there, if it sorts out its service problems.

The London insurance market’s focus has turned towards the developing economies as it looks for growth opportunities around the world, where increasing prosperity means there is more risk in need of protection. In Latin America, the terrible economic performances of some countries (Argentina, Venezuela) has been balanced by steady growth in others, such as Brazil, Mexico and Chile.

But the pandemic has had a devastating impact on Latin American economies, particularly Brazil’s. The resulting recession has undoubtedly affected insurance buying across the region and while there looks to be a recovery on the horizon — although it is likely to vary significantly from country to country — 2021 may well be a year of building back, rather than growth.

The pandemic has had a devastating impact on Latin American economies, particularly Brazil’s.

So, as the economic picture improves, what’s the forecast for insurance in the region?

Global insurance prices have risen this year, with rates in the London market hardening in a way not been seen for over 20 years. Latin American buyers are being impacted by this, and, as a result, local insurers and brokers have set up consortia to pool their resources to cover large and complex risks, which in turn reduces their need to buy cover from markets such as Miami or London.

Although some Latin American governments do not allow foreign insurers to participate directly in the market, international, Lloyd’s and London Market brokers will always be needed to provide essential capacity. For now, the London Market still holds enough cards to attract buyers while, also presenting challenges for Latin American brokers.

Poor Service

In a survey we recently carried out in the region, one respondent commented that the London Market sometimes lacked “knowledge of local conditions” and “interaction could be difficult.” There is a general belief that London has been less responsive since Covid, which has had a negative impact on buyer sentiment. But so far there’s been no substantial shift in business towards local insurers or Miami. It is to London’s advantage that wordings and policy conditions available locally remain unfavourable, while Miami has suffered many of the same service issues as London, despite being in a better time zone to do business with Latin America.

The London Market still holds enough cards to attract buyers while, also presenting challenges for Latin American brokers.

This is the year when London must focus on correcting some of its service gaps — particularly its slow responses to requests — to ensure that international insurers remain the preferred option. If the local market’s expertise and capacity were to build, and if it received support from the right reinsurers, then the London Market could well find its position is threatened. But if it sorts out its service problems, business will continue to flow to London because the local market can’t offer the same expertise on complex risks.

Rising Prices

In financial lines, the level of increases should not come as a complete shock to most buyers, as rates have been rising 5-10% year-on-year for some time, with some sub-classes increasing at a higher rate depending on perceived risk. Some classes are under more pressure than others, but the preference of some Latin American buyers for combined policies means these price increases are sometime averaged out.

There are lines where London’s capacity and expertise remain essential. Directors & Officers insurance (D&O) cover, required in the region’s more sophisticated economies , is one, and here the pandemic has had a big impact on pricing. The problems in D&O have been building for some time, and one insurer commented that the coronavirus was the final straw . This, of course, means that prices will not simply soften again once the Covid crisis has passed.

Other factors are at play, and these are unlikely to unwind in the short term. London has led in terms of a hardening market, but many others are now catching up. It is not just rates that are affected, but a drastic reduction in deployed capacity, increased retentions and reduced commissions – all making the renewal process that much more challenging. Globally, insureds are seeing their premiums increased by multiples, making it difficult to retain the levels of coverage previously purchased.

Cyber Problems

Cyber is the other market most affected by rising rates, where for renewals increases are reaching 30% and more. Latin American brokers are seeing an increasing focus on international cyber solutions as the threats increase. Companies in the region often do not have the controls required to defend themselves against cyber-attacks, and, as a result, some insurers are not willing to underwrite them.

We hope that 2021 will be the year when London binds larger volumes of Latin American business.

The absence of cyber capacity in Miami also means that London must provide almost all of Latin America’s growing international cyber needs, and this is driving renewal-only decisions among some underwriters. First time buyers from Latin America must brace themselves for a lack of options and potentially some limiting conditions on policies. Ransomware is reportedly experiencing the highest spike in claims, which is contributing to rising premiums and coverage restrictions, and, as a result, policies are now commonly sub-limited or co-insured.

Amidst the high levels of unrest and corruption plaguing almost every Latin American country, new local players have stepped up to offer additional capacity where the London Market won’t. But London remains a stronghold and we hope that 2021 will be the year when London binds larger volumes of Latin American business, delivering improved service and much-needed capacity to the region’s brokers.

5 October 2021

New Dawn Risk Group is delighted to announce the launch of its new European subsidiary, New Dawn Risk (Europe) headquartered in Malta. Like its parent company, New Dawn Risk (Europe) focuses on financial and professional lines. The new business will not only directly serve the growing financial and technology services industries in Malta but will also have the capacity to deliver solutions for New Dawn Risk’s global clients who have European operations with complex financial lines requirements. 

The new European operation will be led by Elizabeth Grima and Tom Malcolm, respectively appointed as Senior Executive Officer and Managing Director, assisted by Joseph Rizzo who has been in the insurance sector for more than 30 years.

Max Carter, CEO of New Dawn Risk Group said: “The market for professional and financial lines is facing challenges on several fronts, as pricing continues to harden, and the complexity of placing risks increases. Our group has seen significant demand for our services internationally, and as a result we are delighted to be able to bring our offering to market in Europe; both in service of our larger global clients and to support the in-market requirements of Malta’s own financial services industry.”

Elizabeth Grima, Senior Executive Officer, New Dawn Risk (Europe), commented: “Our offering in Malta will be exclusively wholesale, working with local brokers to provide them and their clients with additional (and much needed) capacity to service larger and more complex financial lines risks. New Dawn Risk Group is one of the largest independent specialist brokers servicing professional and financial lines business around the world, and it is great to have access to that team on the ground in Malta.”

Notes to Editors Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

02 September 2021

New Dawn Risk Group Limited, the international specialty insurance broker, announced today the appointment of Angus Simpson as a non-executive director.

Max Carter, CEO of New Dawn Risk, said: “We are delighted to welcome Angus Simpson to our board.  He brings with him a rare depth of board-level experience in the independent London market broking sector, and we have no doubt that he will provide valuable insights and support to our management team.  New Dawn Risk is strongly positioned to become an increasingly influential participant in the specialty liability market, and Angus will be a major asset in helping us to achieve this.”

Commenting on his appointment, Angus Simpson, said: “I am hugely excited to be joining the Board of New Dawn Risk at what is, unquestionably, a time of immense opportunity for specialty, privately held, independent brokers in the London market. New Dawn Risk is committed to broadening the range of products and services that it can offer to its clients and is now very well positioned to grow its business over the next few years.”

Angus has a wealth of experience with a career spanning 35 years in the insurance industry. He has set up two businesses, an insurance broker and a Managing General Agency underwriting specialist personal lines business. Earlier in his career, he was a director of a Lloyd’s Broker and ran the Central Broking team at Aon Risk Solutions. Angus has also served as a non-executive director for Kite Warren and Wilson Limited, a Lloyd’s insurance and reinsurance broker.

Notes to Editors

Established in 2008, New Dawn Risk is a specialist insurance broker providing dynamic advisory solutions. We focus on complex, international liability and other specialty insurance and reinsurance. Clients large and small profit from our expertise, creativity and responsiveness – from risk assessment through to claims.

Can you describe what your current role involves?

I am currently a Treaty Analyst at New Dawn Risk. My team specialises in the structuring, negotiating and placement of treaties, spanning multiple classes of business such as casualty, crop, cyber and even parametric solutions.


What is your favourite insurance fact?

So I found this out quite recently – apparently, during the early 19th century, movie-goers were so scared of dying due to excessive laughter that they bought insurance through Lloyd’s of London. Definitely wasn’t expecting to hear that…


What did you do before joining New Dawn Risk?

I joined New Dawn Risk just after graduating from University College London with a Masters degree in Financial Mathematics.


Tell us one thing about your career we didn’t know:

I made the mistake of planning a business trip to the Middle East during the peak of Ramadan and had to starve myself until the end of the day to make sure I wasn’t being impolite to some of my clients!


What are your hobbies outside of work?

I enjoy playing tennis and it’s something I’ve picked up once again during the lockdown.  I tried my hand at the ukulele as well but gave up due to a lack of any musical talent!

The article below was originally published in Cannabis Law Report in July 2021. You can access the original article here.


Sean Hocking of Cannabis Law Report recently spoke with Max Carter, the founder and principal at New Dawn Risk, about insurance and risk in the current US cannabis market. The following interview was conducted on 8th July 2021.


Now that we have a Democratic administration with a majority in both houses, what are your feelings about the growth of the insurance market for cannabis as the federal legislation conversation edges forward?

There is a great deal of excitement in the insurance industry at the opportunities the cannabis market will present. We are pretty certain we will see a large number of players being willing to get involved as soon as they have the certainty that they won’t be breaching any federal regulations.

At CLR we have noticed that in some states there has been a marked increase in cannabis insurance services for the sector over the last 12 months. Are you able to give us any insights about what is happening in states like CA, IL, FL and whether comprehensive services are being offered to industry players, or are companies having to string together a patchwork of coverage from different insurance suppliers?

California, Illinois and Florida are in the top five states when it comes to general property and casualty insurance, so we would certainly expect them to be where there is more activity taking place.

As for suppliers being willing to provide a comprehensive suite of cover to cannabis businesses, it does very much depend on the size of the entity being insured and their activities.

Some classes of insurance, in particular, remain very challenging for larger companies, such as directors’ and officers’ liability for listed companies.

Do you think that NY’s recent move towards legalisation and developing a regulated sector will help with providing both greater opportunity for insurance providers as well as better options for companies and organisations looking for coverage?

We don’t think we are going to see any particular difference in approach for New York compared to other large states at this point.

The key to really unlocking the market for insurance will be the passing of the Claim Act.

As mentioned above, providers in the main areas appear to be US state-based organisations providing limited coverage on a state by state basis. Do you concur with this analysis?

Yes, absolutely at the smaller end of the spectrum coverage is being provided by local state-based carriers.

Where we see international interest is more on the larger risks, although at this point there is very little capacity in the market for US risks with very few exceptions (such as Relm in Bermuda).

There really is no international appetite to write US cannabis risks. This is for the same reasons as domestic carriers, namely that they don’t want to fall foul of federal regulators and risk their ability to trade in the US for all of their business.

If you were to highlight where coverage is most needed in the industry are there certain sectors that you feel need solutions now rather than later?

For most businesses, product liability is an essential coverage and it would be nice to see a stronger supply of this coverage being available immediately.

Outside the US and especially in the EU & UK – where there still isn’t really any hard and fast regulation with regard to cannabis but an ever-increasing amount of CBD, medical cannabis & hemp businesses launching in the sector – what options are there for these companies to get coverage?

The market is still very limited in the UK and EU because of the lack of clarity around the regulation of CBD, medical cannabis and hemp.

However, solutions are available.

We think that there needs to be more clarity around regulation in order for insurers to enter the market with enthusiasm.

New Dawn Risk Group is an established specialist insurance intermediary responsible for servicing a worldwide portfolio of UK and International clients.  We focus on placing complex liability and other speciality insurance and reinsurance risks with insurers in all major markets including Lloyd’s of London.

We are currently looking for a permanent full-time senior professional liability broker, specialising in malpractice and healthcare to join our rapidly growing business.  This role reports directly to the Head of Professional Risks.

Key activities & responsibilities:

This is a new senior position at New Dawn Risk and is intended to bring a level of market experience and product knowledge to the team.  We are looking for a self-motivated broker who will focus on client retention and new business production.

Key activities and responsibilities are envisaged as follows:

  • Developing strategic sales / business development plans to grow our US and international medical malpractice and healthcare business.
  • Proven experience in placing insurance for US healthcare professions from miscellaneous medical professional liability to medical malpractice for healthcare institutions.
  • Providing mentoring for less-experienced brokers.
  • Providing technical product expertise to enhance our client offerings both at individual risk level and portfolio level.
  • Travelling internationally to meet with producing brokers, cedants and clients to generate new business and enhance existing relationships.
  • Contributing to New Dawn Risk’s ongoing strategy development and planning.

Desirable skills & qualifications:

  • 4-7 years+ of proven experience in US malpractice and healthcare broking in Lloyd’s and the London market.
  • Experience in handling large medical malpractice risks.
  • Strong relationships with all key underwriters across the Healthcare market, whether US or International.
  • Strong insurance product knowledge across Professional & General Liability, HNOA, EBL, and SML product lines for healthcare professions.
  • Able to demonstrate strong relationships with producing brokers across the healthcare sector.

Personal qualities:

  • Excellent interpersonal / communication skills.
  • Ability to write grammatically correct English.
  • A high level of competency with Microsoft Office.
  • Outgoing and engaging person who has the gravitas and confidence in communicating with and influencing clients.
  • A personal style with integrity that engenders confidence in others and the ability to build effective relationships internally and externally.
  • A self-starter.
  • Strong work and service ethics to achieve desired outputs working in a fast-paced environment.
  • Ability to work with individuals across departments and liaise with external customers and contacts.
  • Open, engaging, approachable and collaborative with a down to earth personality and a sense of personal ownership to achieve results and meet deadlines.
  • Adaptable, methodical, versatile with a keen eye for attention to detail and accuracy.

Compensation package:

The compensation package for this role will include a competitive salary, a performance-based bonus based on new business production and renewal retention (in respect of renewing any new business produced).

This is a new senior position that will require a high level of market experience.  We are looking for a self-motivated and experienced salesperson, who will develop our UK business with their product knowledge, networking and sales skills.

The creation of this role signifies a key expansion for New Dawn Risk, a specialist insurance and reinsurance broker operating in the London Market. The company has recently invested in building a UK-focused wholesale division, and this next step into direct corporate retail business is a natural progression of the company’s strategy.  

Key activities and responsibilities:

  • Developing strategic sales / business development plans to grow our UK professional and financial lines and other target business.
  • Identifying classes of business in which opportunities exist for New Dawn Risk to play a relevant role and developing a strategy to take advantage of such opportunities.
  • Engaging with prospective clients by phone, by email and through networking opportunities.
  • Building a portfolio of high-value clients (target minimum total commission £10,000 per client) with renewable policies across the UK.
  • Travelling nationally to meet with new and existing clients to build and enhance relationships and generate new business referrals.
  • Contributing to New Dawn Risk’s ongoing strategy development and planning.
  • Supporting New Dawn Risk’s training objectives through structured training sessions of the broking and account management teams.
  • Engaging with key insurers and supporting our broking teams in placing new and renewal business.

Key attributes and experience:

  • A proven and experienced retail producer, who can hit the ground running.
  • Established product knowledge, particularly in Professional Indemnity and Directors & Officers Liability.
  • An individual who wants to drive their own business responsibilities and to accelerate their career.
  • Confident, motivated and experienced at cold calling and presenting.
  • Experienced in networking.
  • Gravitas to represent the company in a highly professional manner.
  • Ability to travel nationally.
  • Exemplary client care and service.
  • Excellent written and verbal communication skills.

Compensation package:

The compensation package for this role will include a competitive salary, commission on new business production and renewal retention (in respect of renewing any new business produced), and participation in a company health insurance programme and pension scheme.

New Dawn Risk Group is an established specialist insurance intermediary responsible for servicing a worldwide portfolio of UK and International clients.  We focus on placing complex liability and other speciality insurance and reinsurance risks with insurers in all major markets including Lloyd’s of London.  

We are currently looking for a permanent full-time senior professional liability broker to join our rapidly growing business.  This role reports directly to the Head of Professional Risks.

Key activities and responsibilities:

This is a new senior position at New Dawn Risk and is intended to bring a level of market experience and product knowledge to the team.  We are looking for a self-motivated broker who will focus on client retention and new business production.

Key activities and responsibilities are envisaged as follows:

  • Developing strategic sales / business development plans to grow our US and international professional liability business.
  • Proven experience in placing professional liability for architects & engineers, lawyers, accountants and healthcare.
  • Providing mentoring on broking tactics and technique for less-experienced brokers.
  • Providing technical product expertise to enhance our client offerings both at individual risk level and portfolio level.
  • Travelling internationally to meet with producing brokers, cedants and clients to generate new business and enhance existing relationships.
  • Contributing to New Dawn Risk’s ongoing strategy development and planning.

Desirable skills and qualifications:

  • 5 years-plus of proven experience in US professional liability broking in Lloyd’s and the London market.
  • Strong relationships with all key underwriters in the relevant sectors.
  • Strong insurance product knowledge.

Personal qualities:

  • Excellent interpersonal/communication skills
  • A high level of competency with Microsoft Office.
  • Outgoing and engaging person who has the gravitas and confidence in communicating with and influencing clients.
  • A personal style with integrity which engenders confidence in others and the ability to build effective relationships internally and externally.
  • A self-starter.
  • Strong work and service ethics to achieve desired outputs working in a fast-paced environment.
  • Ability to work with individuals across departments and liaise with external customers and contacts.
  • Open, engaging, approachable and collaborative with a down to earth personality and a sense of personal ownership to achieve results and meet deadlines.
  • Adaptable, methodical, versatile with a keen eye for attention to detail and accuracy.

Compensation package:

The compensation package for this role will include a competitive salary, a performance-based bonus based on new business production and renewal retention (in respect of renewing any new business produced).

A part-time Claims Associate who has experience in professional liability and directors’ and officers’ insurance is needed to join a leading Lloyd’s of London broker based in the City of London. Expect to become a key team member, coordinating multiple projects in a fast-paced environment.

This is a part-time role at 25 hours per week. Flexible work from home options available.

Founded in 2008, New Dawn Risk is a specialist insurance broker that focuses on placing complex liability and other speciality insurance and reinsurance risks with insurers across all major markets (including Lloyds and the London Market, Bermuda, DIFC, Singapore and many others). Due to an exciting period of growth, we are now seeking a proactive part-time Claims Associate to work closely with the Claims Manager.

The Claims Associate will be responsible for assisting in the coordination and broking of all claims within the company. Whether you are maintaining client files, building relationships with clients, understanding market changes, resolving issues, liaising with overseas brokers, maintaining claims files, obtaining loss runs or assisting in the preparation of claims reports and statistics, it will be your strong insurance product knowledge across PI & DO that ensures accurate and timely payments for clients. 

Qualifications:

The ideal candidate will have previously served as a Claims Associate / Insurance Claims Associate / Claims Handler / Claims Broker / Insurance Claims Handler / Insurance Claims Consultant / Claims Support Administrator or similar with a CV that demonstrates:

  • Experience of working in Claims with Professional Liability and Directors & Officers insurance.
  • Strong insurance product knowledge across PI & DO.
  • Strong relationships within the sector.
  • Knowledge of London Market Systems, particularly ECF.
  • Excellent interpersonal / communication skills.
  • The ability to write grammatically correct English.
  • A high level of competency with Microsoft Office.
  • You are an outgoing and engaging person who has the confidence in communicating with clients.
  • A self-starter.
  • A strong work and service ethics to achieve desired outputs working in a fast-paced environment.
  • The ability to work with individuals across departments and liaise with external customers and contacts.
  • You are open, engaging, approachable and collaborative with a down to earth personality and a sense of personal ownership to achieve results and meet deadlines.
  • You are adaptable, methodical, versatile with a keen eye for attention to detail and accuracy.
  • Lloyd’s experience is desirable but not essential.

This is an excellent opportunity for a Claims Associate with a strong work ethic to join a fast-moving and forward-thinking team. Expect to grow your skills and experience within a refreshing and approachable environment where you will be well-rewarded for your efforts.