CPPIC and a Lloyd's syndicate stand behind a single policy the broker calls a world first, spanning departure, quarantine and continuing annual mortality protection.
The partners say the policy is Australia's first pay-per-kilometre rideshare cover, pairing a fixed private-use premium with one linked to distance driven on Uber.
The Cologne-based executive takes charge of underwriting strategy across Europe, Asia and Australia, stepping up from the insurer's German underwriting operation.
Chan brings more than 35 years of industry experience and previously served as chairman of the Hong Kong Confederation of Insurance Brokers and on the Insurance Authority's transition working group.
The penalty relates to ICICI Lombard's failure to document ₹7.10bn (US$75.1m) of sales, marketing and business support spending in FY2019, part of which went to agents of other insurers.
Both agencies said the benefit will hinge on how the five state-owned (re)insurance groups deploy the money, with heavier equity investment raising asset risk.
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