Amwins MGA unit expands into executive D&O liability
Amwins Special Risk Underwriters is expanding beyond the property market with the launch of its executive D&O liability products, the company announced Thursday.
The MGA has been writing exclusively for Amwins brokers since 2008.
The Charlotte, North-Caroline based firm’s non-admitted program will write excess public D&O risks, as well as excess private or not-for-profit risks, including standalone D&O or blended D&O/ employment practices liability /fiduciary liability risks with a shared limit in conjunction with the D&O.
Excess coverages for public and private companies include D&O Liability, D&O Side A/DIC, employment practices liability and fiduciary liability.
Target classes include manufacturing, professional services, technology, financial/insurance, energy, retail, transportation, aerospace, entertainment and more, with limits up to $5mn.
"SRU is excited to expand our offering to include this important coverage,” Amwins CUO Mark Bernacki, who also serves as president of SRU, said in a statement.
“We believe our reputation for quality underwriting has enabled this growth, and we look forward to strengthening our existing relationships with our brokers going forward,” he added.
Scott Misson, executive vice president of SRU's Management & Professional Liability group, said the timing is right for this product because the D&O market is stressed.
The launch is part of a series of new programs and recent acquisition for wholesaler Amwins.
Last month, its Amwins Program Underwriters division brought in new talent to head its new crane and rigging specialty contractors program.
And in July, Amwins launched a product that combines deadly weapons protection with sexual molestation liability coverage.