Independent agents have another wholesale option for sourcing risk in the professional liability market.
Last week, the North America unit of Cooper Gay Swett & Crawford announced the launch of StatPro Underwriters, a managing general agent that will serve miscellaneous professional liability insurance needs in the US market.
Target classes include a wide variety of professions, such as employment agencies, event planners, claims adjusters, real estate agents and brokers and appraisers.
Coverage includes choice of counsel and automatic inclusion for additional insureds and contractors at no additional cost, and will be placed by CGNMB LLP - Cooper Gay's Lloyd's brokering operation.
It is intended to cover small to mid-sized E&O risks with up to $5 million in capacity.
The new MGA will be led out of New York by Senior Vice President Judy Biancardi and Vice President Samantha Gamble.
"We know that brokers want clear decisions on risks fast, so our approach is straightforward," Biancardi said. "Whether through template underwriting offering an exceptionally fast turnaround time 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 will be handled by Wilson Elser Moskowitz Edelman & Dicker LLP.
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