CGSC North America formally announced today that STATPro Underwriters, a new Managing General Agency serving the Miscellaneous Professional Liability insurance market, is live and writing policies.
STATPro provides rapid-service underwriting exclusively via Swett & Crawford wholesale brokers to retail brokers and agents in the United States for small to mid-sized errors and omissions (E&O) risks up to $5m of primary capacity. STATPro underwrites on behalf of A.M. Best “A” rated, Lloyd’s of London paper; a facility placed by CGSC Group’s Lloyd’s brokering operation, CGNMB LLP.
Cover is available on Miscellaneous E&O classes for a wide range of professions including Claims Adjusters, Real Estate Agents/Brokers, Appraisers, Employment Agencies and Event Planners. Unique coverages such as automatic inclusion for the vicarious liability of additional insureds and independent contractors arising from the professional services of the insured and mutual choice of counsel are available at no additional cost.
STATPro, the latest MGA funded by CGSC North America, has an experienced team of underwriters led by Judy Biancardi as Senior Vice President and Samantha Gamble, Vice President. Judy and Samantha bring a combined 35+ years of senior level experience within the professional liability and casualty markets at firms including ACE, Chubb, Hiscox USA and Houston Casualty.
Tom Ruggieri, CEO of CGSC North America, said: “The STATPro team, through analyzing the Miscellaneous E&O business placed by Swett & Crawford wholesale brokers, have been able to pool risks with similar profiles to meet the appetite of certain Lloyd’s Syndicates resulting in better pricing and coverage terms for brokers.”
Ruggieri continued: “The development and delivery of MGA businesses are an important part of the growth strategy for CGSC. STATPro has benefited from being able to leverage the technology and premium processing operation that already exists for other CGSC North America MGAs and its quick launch is further evidence of our ability to bring new products to market.”
Judy Biancardi, Senior Vice President of STATPro, said: “We know that brokers want clear decisions on risks, fast, so our approach is straightforward. Whether through template underwriting offering an exceptionally fast turnaround time for smaller accounts or delivering technical underwriting skills and insight on more complex risks, the team is empowered to respond directly to the specific needs of Swett & Crawford brokers’ clients.”
Claims under the STATPro policy are handled by Wilson Elser Moskowitz Edelman & Dicker LLP (Wilson Elser). The firm has a dedicated Program Management Team of experienced attorneys who offer claims counsel and program management services, working not only with insurers such as Lloyd’s, but also with policyholders and their local defense counsel to achieve proactive, resolution-minded results. Wilson Elser is one the most influential law firms in the US with almost 800 attorneys in 28 offices across the country and in London. They have more than 45 years of insurance program experience and are ranked in the Am Law 200 and in the top 50 of the National Law Journal 350.
Chad Hemenway is Managing Editor of Advisen News. He has more than 15 years of journalist experience at a variety of online, daily, and weekly publications. He has covered P&C insurance news since 2007, and he has experience writing about all P&C lines as well as regulation and litigation. Chad won a Jesse H. Neal Award for Best Single Article in 2014 for his coverage of the insurance implications of traumatic brain injuries and Best News Coverage in 2013 for coverage of Superstorm Sandy. Contact Chad at 212.897.4824 or [email protected].
