Costero Brokers Ltd. is a privately owned London-based brokerage that opened its doors in August 2017. The company’s core focus is to provide bespoke solutions in the following lines of business: property, cyber, professional and financial lines, marine stock throughput, terrorism, and active assailant, with additional product offerings to be added in the near future with further expansions.
Costero Brokers Ltd. provides innovative product offerings and tailored program design to meet each of our clients needs.
CLASSES OFFERED BY COSTERO BROKERS LTD.
Professional liability insurance, also called professional indemnity insurance, but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice-and-service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder.
Directors and officers liability Insurance (often called “D&O”) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event that an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials. In fact, often civil and criminal actions are brought against directors/officers simultaneously. Intentional illegal acts, however, are typically not covered under D&O policies.
Employment practices liability is an area of United States labor law that deals with wrongful termination, sexual harassment, discrimination, invasion of privacy, false imprisonment, breach of contract, emotional distress, and wage and hour law violations. It may be categorized as a form of professional liability. Employment practices liability insurance (EPL) is sold as a type of management liability insurance, which is related to professional liability insurance.
A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
While called bonds, these obligations to protect an employer from employee-dishonesty losses are really insurance policies. These insurance policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company to sustain a loss and obtain an improper financial benefit, either for themselves or another party.
The fidelity bond marketplace is, generally speaking, split into two main type of policies; financial institution bonds (to protect financial institutions such as banks, stockbrokers, insurance companies etc.) and commercial crime policies (non-financial institutions).
Cyber-insurance is an insurance product used to protect businesses and individual users from internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products. Coverage provided by cyber-insurance policies may include first-party coverage against losses such as data destruction, extortion, theft, hacking, and denial of service attacks; liability coverage indemnifying companies for losses to others caused, for example, by errors and omissions, failure to safeguard data, or defamation; and other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds.
Tech E&O coverage is designed to cover the financial loss to a company’s customer as a result of an error or omission in the service or product supplied to the customer.
Tech E&O is a subset of Miscellaneous Professional Liability specifically tailored to address the unique exposures presented by technology companies. It is likely that a technology provider will, by contract, need to supply evidence of E&O coverage.
Media liability insurance is a type of specialized errors and omissions insurance. It protects authors, publishers or broadcasters, advertising or PR agencies, and other media professionals if they’re sued for defamation, invasion of privacy, plagiarism, and related claims.
Intellectual property (IP) insurance helps your business defend itself against claims of IP infringement and can help you pursue those who are infringing on your patent, copyright, or trademark.
At Costero we have placed a new lineslip to provide coverage in the STP market place – the lineslip will consider all Industry sectors and provide alternative solutions on limits and deductibles terms.
Ability for Insureds to consider potential gaps in their general liability and property policies caused by active assailants :
Specialist terrorism insurers developed comprehensive solutions with tailored coverage and crisis management to respond to unpredictable and indiscriminate events.
Main Heads of coverage provided:
- Legal liability coverage
- Physical damage coverage
- Business interruption coverage
- Extra expense coverage
- Crisis response and public relations consultancy
We have experience in placing US and International Terrorism Risk Programs:
Standalone Terrorism provides wider coverage and includes Sabotage, able to provide flexible policy deductibles, coverage can be extended to cover Global assets.
Insured can select which assets to cover within their portfolio unlike TRIPRA .
Terms are competitive and terms bespoke to each client .
Coverage can be extended to include:
- Nuclear chemical
- Radiological and active assailant coverage
- Threat coverage
- Loss of attraction coverage and business interruption
- Political violence
- Terrorism liability
Ability to provide bespoke solutions through programme design , captive structures , negotiation and placement across all phases of the market and capacity cycles .
All Industry sectors considered with ability to approach Lloyds and Company markets on a Global basis.
Specialist in Habitational and Real Estate Programs with a Lloyds lineslip in place which has successfully been running for a number of years.
Knowledge of hardening markets and ability to provide capacity especially in major catastrophe regions.
Executive Vice President
Nick has worked at Costero Brokers since its inception in August 2017. Nick has over 36 years’ experience in the London insurance industry, specializing in property, business interruption and contingent business interruption. Nick’s client handling and placement experience covers a broad range of industry sectors, which he has supported through program design, bespoke policy wordings, capacity management, claims management, and alternative structures, including captive design and establishment. While primarily focused on the US markets, Nick has experience in Caribbean, LATAM, Africa, MEA, APAC and Europe business.
Danny joined Costero Brokers in December 2018 and brings with him 10 years' of experience in the insurance industry. Danny started his career in claims, handling all manner of Energy, Construction, and Professional Indemnity losses for some of the world’s largest corporations. From claims, he quickly progressed into the broking world and has been heavily involved in the Cyber, Technology, Media, Intellectual Property, and Financial & Professional markets in London. Danny has helped to develop cutting-edge products for clients, which are constantly updated to meet both the demands of the brokers that we work with and the markets in which we operate.
Danny’s role at Costero Brokers is to help expand operations further into the Lloyd's and UK underwriting markets. Danny will be handling an array of classes for both Professional and Financial Institutions, which will consist of E&O, D&O, EPL, Crime, Tech E&O, Media, Intellectual Property, and Cyber.
Jessica joined Costero Brokers in October 2018 to provide operational support to the business. Jessica has been in the insurance industry since 2011 and has experience in a wide range of different roles within the insurance sector, including finance and technical. She has since progressed to business operations where she has led and been involved in projects for both back-office and front-end teams. Jessica has experience working in a start-up environment as well as a large corporation and her main role at Costero Brokers is to establish the business infrastructure and processes.