NEW YORK--(BUSINESS WIRE)--May 8, 2018-- 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.
Source: Validus Holdings, Ltd
Validus Holdings, Ltd.
Mustafa Riffat / Charlotte Connerton