Skip to main content

Market Overview

Validus Specialty and Business Risk Partners Offer New Admitted Management Liability Form

Share:

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.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com