Hiscox launches N.Y.-based specialty underwriting unit.

Lloyd's insurer Hiscox plc is continuing its aggressive expansion into the U.S. market with the opening of a New York-based underwriting operation targeting specialty lines.

Just three months after launching a Bermuda insurer/reinsurer that also will target the U.S. market, Hiscox USA, based in Armonk, N.Y., is aiming for business among small and medium-sized U.S. companies, those that typically fly under the radar for Lloyd's underwriters working in London. Ed Donnelly, president of Hiscox USA and leader of the new operation, said Hiscox has begun writing professional liability coverage in the United States, and in the coming months it plans to add terrorism, free art and technology coverages to its portfolio.