Ascot as a partnered with Highland Insurance Solutions LLC, a subsidiary of WNC Insurance Services Inc. to provide a builders risk insurance program for projects in the U.S.
The partnership will provide Highland with additional capacity to underwrite frame and concrete construction projects on all risks policies. Available exclusively for new developments, the solution will deliver protection for physical damage and delay in completion. The program is offered in most continental states with a particular geographic focus on the mid-west and mid-east regions.
Utilizing Highland’s specialized distribution and underwriting expertise in the builders risk sector, capacity will be supplied by Ascot Specialty Insurance Company, Ascot’s non-admitted domestic U.S. platform, rated ‘A’ by A.M Best.
Ascot Group is a global specialty insurance and reinsurance group. Founded in 2001, Ascot provides a broad range of property and casualty products to customers worldwide through its Lloyd’s and Bermuda market platforms. In the United States, Ascot provides specialized insurance products to small and mid-sized business as well as offering underwriting services to high-quality carrier and syndicate partners through its MGU, Ethos Specialty. Ascot Group is owned by CPP Investments, a global investment management organization that invests the assets of the Canada Pension Plan.
Highland Insurance Solutions is a wholly owned company of WNC Insurance Services Inc., a property and casualty underwriting agency that offers distinct solutions for private flood, construction, fine art and specialty property. WNC includes Precise Adjustments, a wholly owned subsidiary that provides claims capabilities. Founded in 1962, WNC is a wholly owned company of Tokio Marine Kiln, one of the largest carriers in the Lloyd’s of London insurance market and a member of the Tokio Marine Group. WNC’s has corporate offices in Chicago and South Pasadena, Calif., and operating centers in Dallas, Irvine, Calif., Miami, Naperville, Ill., and New York.
Source: Ascot Group
Topics USA
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