Darwin Professional Underwriters Inc. has introduced a new management and professional liability coverage for alternative risk transfer (A.R.T.) facilities, including captives, risk retention groups, reciprocals, and exchanges, as well as privately held non-rated insurance companies (i.e., insurance companies without an A.M. Best Company financial strength rating). Darwin has partnered with Ohio-based Quadrant Insurance Managers (Quadrant), as its underwriting partner for this product.
The product, A.R.T. management and professional liability insurance, is geared towards A.R.T. facilities that offer property and casualty, workers’ compensation, and life, accident, and health solutions with $250 million or less in annual gross written premium. Coverage is made up of directors and officers (D&O) liability, employment practices liability (EPL), and professional liability (E&O) insurance.
The product is designed to be a flexible platform that can be amended to meet the special requirements of clients. Coverage is available for subsidiary operations, including claims administrators, captive managers, and managing general agents/underwriters. A proprietary loss control program is also available at no additional cost.
“A.R.T. facilities often have inadequate management and professional liability coverage because they either lack an A.M. Best rating or are misunderstood risks by carriers as a whole,” explains Nicole Haggerty, Darwin’s vice president, professional liability underwriting.
“The loss control program was designed by a team of experts in all facets of the insurance business to help clients build or improve their own best practices,” states Mark Harris, president of Quadrant. “We have built a protocol designed to assist A.R.T. facilities to perform a meaningful self- evaluation process. The process will be valued by many clients but will not be mandatory.”
For more information or to access the A.R.T. management and professional liability product, please contact Nicole Haggerty of Darwin at 860-284-1968 (nhaggerty@darwinpro.com) or Douglas Ruml of Quadrant at 877-782-3726 (druml@quadrant-us.com). Additional information may be found at http://www.quadrant-us.com.
Source: Darwin, Quadrant
Was this article valuable?
Here are more articles you may enjoy.
Progressive Q2 Net Income Skyrockets Over 320% 
Trigger Warning: Cyber Policy Wordings to Impact Coverage for Tech Outage 
Allstate, State Farm Sued Over $4 Billion Maui Fire Settlement 
What Disruptions Have Been Reported After the Global Tech Outage? 
