Validus Specialty and Business Risk Partners Offer New Admitted Management Liability Form
May 08 2018 - 7:38AM
Business Wire
The Commercial Directors & Officers insurance team of
Validus Specialty Underwriting Services, Inc. (“Validus Specialty”)
today announced a partnership with Business Risk Partners (“BRP”),
a leading producer, underwriter and administrator in the
Professional & Management Liability space.
Under the partnership, BRP will offer a new and expanded
admitted management liability package policy form covering D&O,
EPL, fiduciary, crime, and cyber. The facility is available to U.S.
agents and brokers.
“An entrepreneurial mindset, great talent, proven claims
handling ability, and a big appetite to expand into new areas are
what attracted us to Validus. We’re excited to be working together
to offer agents and brokers and the customers they serve more
comprehensive coverage with the addition of cyber and crime plus a
lot more flexibility,” said Lisa Doherty, BRP’s CEO and
president.
Cathy Cossu, Validus Specialty’s Senior Vice President of
Professional Lines added, “BRP is well known in the middle market
management liability space for their strong underwriting acumen and
outstanding customer service. Validus and BRP both share a
client-centric mindset that has served as a cornerstone in
establishing a robust collaboration from the outset.”
Cover and Limits
Offering $5 million in limits on a shared or separate limit
basis, the new coverage is available combined and standalone.
Excess coverage is also available.
Significant enhancements to the form include:
• Option to select indemnity or duty to defend.
• AlphaPack commercial coverage modular package form with
separate coverage sections for D&O, EPL, fiduciary, crime, and
cyber.
• Additional defense limit of $1 million included for all
policyholders.
• Coverage extensions available for wage & hour, immigration
defense, privacy violations, workplace violence, training expenses,
crisis management expenses, employed lawyers and more.
“Extending this offering is a boon to agents, brokers, and
clients who are looking for the strength of ‘A’ rated paper from
Validus and the responsive services of BRP,” said Julia Keenan,
Vice President of Commercial D&O at Validus Specialty.
About Validus Specialty Underwriters
Validus Specialty offers a wide range of E&S and Admitted
insurance solutions and operates on behalf of Western World
Insurance Group and Talbot Underwriting Ltd., through Syndicate
1183. With the flexibility of offering ‘A’ rated Lloyd’s paper and
‘A’ rated U.S. domestic excess & surplus lines and admitted
paper through Western World insurance companies, Validus Specialty
offers enhanced distribution access, excellent technical
underwriting and claims management, and access to leading
underwriting capacity. We are part of Validus Holdings, Ltd. (NYSE:
VR), a leading global provider of reinsurance, insurance, and asset
management services. Validus companies maintain a worldwide
presence with more than 1,000 employees in 17 offices. Learn more
at validusholdings.com.
About Business Risk Partners
Founded in 2000, Business Risk Partners (BRP) is a specialty
insurance underwriter and program administrator committed to
creating long-term, mutually profitable partnerships through
superior service and teamwork. Partnering with top global carriers
and using proprietary technology, BRP offers a wide variety of
professional liability, management liability, data breach/privacy
and hybridized specialty solutions to agents and brokers serving
middle market customers nationwide. BRP’s underwriting specialists
are often commended for their ability to turn complicated risks
around in 24 hours. Proprietary technology enables real-time quote,
bind, issue and servicing and is seen by many as one of the best in
the business. BRP is privately held and based in Windsor,
Connecticut.
For more information, contact us.
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