Markets/Coverages: Ryan Specialty Forms Transactional Risk Practice; Corvus Launches ‘All-in-One’ UW Platform

Ryan Specialty announced the formation of a global transactional risk practice, Ryan Transactional Risk. This global managing general underwriting practice is being created by combining the operations of Concord Specialty Risks (headquartered in New York City) and Ryan Specialty Transactional Risks International (headquartered in London).

Ryan Transactional Risk will be led by four managing directors – David S. De Berry, James Montgomery, George Pearce, and Rich Stansfield. Each is a longstanding executive of one of the existing managing general underwriters.

Representations & Warranties and Warranty & Indemnity insurance will be led globally by James Montgomery, George Pearce and Rich Stansfield. Specific Litigation and Contingent Liability insurance management, innovation, and global expansion will be led by David S. De Berry. Tax insurance will be coordinated by the managing directors, supported by regional leaders Bill Kellogg and Kerry Westwell.

Corvus Intros Corvus Risk Navigator

Corvus Insurance announced the start of Corvus Risk Navigator, what it called an all-in-one cyber underwriting platform. With the help of Corvus Risk Navigator, underwriters are able to provide superior risk selection, accelerated decision-making, and IT security recommendations.

This launch coincides with the strategic growth of the company’s underwriting team as Corvus magnifies its focus on the cyber market.

The Corvus Risk Navigator platform places real-time suggestions into the underwriting workflow based on a matrix of data including firmographics, threat intelligence, claims and peer benchmarking to empower underwriters to make complex decisions on an objective, statistics-based foundation, and enables them to work with brokers and their clients to improve insurability. The cyber underwriting platform also accelerates underwriters’ decision-making by automating routine tasks.

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