Everspan Group, a specialty property and casualty (P&C) insurance platform, and tech-enabled MGA Aurenity, have partnered up to launch a new program to provide excess casualty buffer coverage for mid-market construction, hospitality, real estate, premises, and products risks.
The new program will address the demand for buffer layer coverage between the primary market and increased average attachments in the excess space.
Typical targeted limits will be $4 million excess $1 million and $3 million excess $2 million with flexibility to write shorter layers as necessary.
Moreover, the program will also be underwritten by Aurenity’s excess casualty team, led by Janet Beaver, and distribution will be through wholesale E&S brokers.
Steve Dresner, President of Everspan Group, commented on the program: “We are thrilled to partner with Aurenity on this program. The Aurenity team shares Everspan’s commitment to disciplined underwriting and uses cutting-edge technology to enhance their underwriting expertise, making this partnership a great fit for us.”
Aurenity CEO Nick Davies, said: “Everspan’s underwriting philosophy and entrepreneurial outlook are aligned with our
own. We are bringing a much needed solution to the E&S market together whilst we continue to build Aurenity’s extensive capabilities in the casualty market.”
Elsewhere, Aurenity recently launched primary general liability and excess casualty programs. Now following the launch of this excess buffer program, the firm will now possess the capabilities to participate in all layers of the placement tower.
In July 2022, Aurenity partnered with Origami Risk to help develop its core underwriting platform.
In early 2022, Everspan acquired 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey, in a move that helped broaden the firm’s distribution capabilities.
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