Marsh adds Petros to Finpro division

MARSH has added to its financial and professional (Finpro) practice with the hiring of Eleni Petros as a senior vice president.

Petros joins the broker from Chartis where she was a legal counsel and product manager for financial lines for almost five years. Prior to joining Chartis, she spent three years as a legal counsel at Royal & Sun Alliance.

In her new role, Petros will specialise in directors’ and officers’ (D&O) insurance for the financial and professional services sector and will report to the head of Marsh’s financial services division within Finpro, Charles Beresford-Davies.

Beresford-Davies said: “The significant challenges faced by the banking sector and wider financial services industry over the last two years, compounded by the economic downturn, have only served to highlight the complex D&O risks faced by the sector. Heightened regulatory scrutiny, government intervention, a need to rebuild balance sheets and investor disquiet are just some of the issues currently faced by our clients.”

His comments were echoed by Petros, who said: “Events over the past 18 months in particular serve to remind us how vulnerable directors and officers are to allegations of wrongdoing and potential claims. In order to secure the best possible terms for their D&O insurance programmes at renewal, it is crucial that firms develop a well-defined purchasing strategy, highlighting just how well they manage their D&O risks to their insurers and seek the best insurance cover available to them on the market.”