FEATURES
COVER STORY: SPECIALIST RISK MANAGERS TATE & LYLE
Richard Storey
group insurance and risk manager London
Life is sweet for Richard Storey, who is responsible for all aspects of insurance for FTSE 250-listed Tate & Lyle. The company sold its sugar refining business, including rights to use the Tate & Lyle brand name and Lyle’s Golden Syrup, to American Sugar Refining in 2010 for £211m. It now focuses on manufacturing ‘high-intensity’ sweeteners and other food ingredients. Storey has held insurance management positions at global building materials outfit RMC Group and gas multinational BOC. He has a master’s in biochemical engineering from UCL.
THOMAS COOK
Mark Dawson
Group head of insurance
Mark Dawson’s latest home in a career spanning 34 years is the travel giant Thomas Cook, where he is group head of insurance. Prior to taking up his current position, Dawson spent 30 years with Marsh, where he became a managing director dealing with large corporate clients in the UK and overseas. He was CEO of Marsh’s Taiwan operation and also worked in Germany.
THALES
Mike Squibbs
Risk and insurance manager Crawley
Aerospace, ground transportation, defense, security and space are all among Thales’ sectors of expertise, and Mike Squibb’s concern is insurance and risk management. In charge of program placements, enterprise risk management, business continuity management and loss prevention, Squibbs works to create a safer Thales across the company’s 12 UK sites and 6,500 employees, in line with the company’s goal of assuring the security of citizens, infrastructures and nations. Formerly, Squibbs held various risk management positions with Exel, UPS and Lend Lease. Thales, a French company with UK headquarters in Manor Royal, has been making headways in space technology
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What kind of insurance do you buy? “We buy fairly conventional lines – property & casualty, business interruption, public tour operator liability which is quite specific to our sector. We buy some terrorism coverage
“We run an airline so we buy aviation insurances covering the aircraft, and passenger liability and war risks” on specified locations, we buy financial lines in terms of D&O, financial crime, pension fund trustees’ liability. We buy statutory coverage like UK employer’s liability or outside the UK working compensation where we’re required to, we buy motor insurance, personal accident, travel insurance. We run an airline so we buy aviation insurances covering the aircraft, and passenger liability and war risks.”
Which brokers do you use? “We use Marsh predominantly, but we also work with Willis Towers Watson – we operate a captive insurance company and they manage that.” What do you look for in a broker? “I suppose the key things are experience and knowledge of the travel and leisure sector and
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