Bermudian-based Fidelis Insurance has taken an equity stake in Perigon Product Recall Ltd, a new managing general agency, and will be providing underwriting capacity. Perigon’s focus will be product recall and product contamination coverage for food and beverage producers, restaurant operations, auto manufacturers as well as a broad range of other recall classes of insurance. This will be managed through Pine Walk Capital Ltd, Fidelis’ subsidiary MGA platform.Ian Bailey will run Perigon, bringing more than 20 years’ experience in the industry and 15 years specialising in the field of product recall and contamination. Mr Bailey started his career at Independent Insurance and then moved to RSA, before his focus on product recall began at AIG, before he then went on to XL Catlin and later Hiscox.