“Throughout his career, Mr. Bull has created a range of highly innovative business interruption and income disruption products,” comments Evan Glassman, President and CEO, New Paradigm Underwriters. “His ability to recognize and solve client needs will be invaluable to New Paradigm and our clients.”
A 25-year veteran of the insurance industry, Mr. Bull was most recently a managing director at Beecher Carlson where he was in charge of business development. Before that he was national property practice leader at Burns & Wilcox. Bull spent many years at Marsh where he started in the mailroom while still a student at the College of Insurance and ultimately became a managing director of the company’s U.S. Property Practice in New York.
“Climate change is already taxing the ability of traditional insurance to provide adequate coverage, especially for businesses,” comments Mr. Bull. “The time has come for New Paradigm’s Hurricane PM line of parametric-based products. I look forward to reconnecting with many of my old colleagues and clients, and educating them on how parametric products supplement traditional insurance to provide a much more complete balance sheet and budget protection.”
Among the innovative products Mr. Bull developed during his career are a standalone cancellation of booking insurance cover for the hospitality industry, as well as income disruption covers for the entertainment, gaming, hospitality and sporting events industries.
New Paradigm Underwriters claims that it has experienced explosive demand for its parametric products, which do not involve specific loss-related claims but rather pay out based on the occurrence of previously agreed triggers such as wind speeds or earthquake intensity indexes.