Fronting
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Dijak joins the firm’s executive team less than five months after he moved to AI-based insurance-linked investment platform Vesttoo as VP. -
The fronts are highly leveraged balance sheet firms taking significant underwriting risk, with high levels of counterparty credit risk.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Based in Austin and Dallas, Texas, the new company will provide fronting insurance to four US carriers.
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The executive will continue reporting to CEO William Jewett based in New York.
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The company hired Ambac’s Scott Snyder as president of fronted programs.
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Core customers for ISC’s program are small general contractors and artisan contractors that are unable to secure coverage in the admitted market.
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The three carriers are 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey.
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Fast-growing fronting company Incline P&C Group has agreed to back a trucking and transportation program for Strategic Insurance Underwriters, a unit of wholesaler intermediary US Risk.
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A report said that the programs market had been “battle-tested” by the pandemic, and despite the growth, the percentage of program administrators reporting premium increases declined.
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Executives spoke about the increasing sophistication of the programs market, and the heightened expectations placed upon MGAs looking to secure capacity.
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