Rokstone Construction Risk Underwriters (Rokstone CRU), a subsidiary of Aventum Group’s international (re)insurance managing general agent Rokstone, has recently formed a strategic partnership with Builders’ specialty program division. The collaboration aims to secure up to $10 million in follow-form lead excess coverage from the Atlanta-based insurer for general liability on complex construction projects.
Rokstone CRU specializes in casualty and builders’ risk insurance as a managing general underwriter. Through this partnership, Rokstone CRU has gained access to nationwide capacity on a non-admitted basis, utilising Specialty Builders Insurance Company’s platform, which has earned an “A” (Excellent) IX rating from A.M. Best.
The collaboration will enable Rokstone CRU to offer follow-form lead excess policies on an excess and surplus basis for controlled insurance programs and commercial project-specific opportunities throughout the United States.
“We’re delighted to be expanding our relationship with Builders,” said Mike Simone, president of Rokstone CRU. “Developing this second product alongside our existing relationship on our wood-frame builders risk offering affords us the ability to enhance and grow our platform while providing our customers and broker partners with the coverage continuity and financial stability they seek with an expert commercial insurance carrier.”
With offices in the UK, Europe, the US, Asia, Africa, and the Middle East, Rokstone is an MGA that specialises in serving the needs of international (re)insurance brokers within the specialty lines business. It currently underwrites $1 billion in gross written premium across specialty lines such as property, power generation, marine, aviation, warranty, credit and surety treaty, agriculture, construction and engineering, and liability.
“Our specialty division focuses on building a portfolio of business complementary to Builders’ well-established expertise,” said Antonio R. Barner, chief operating officer at Builders. “This program does just that. By partnering with sophisticated operators like Rokstone, we are able to expand our reach in construction, offering insurance solutions to a wider array of buyers.”
“The opportunity to partner with Rokstone once again was an exciting prospect,” said C. Brent Johnson, Builders’ vice president of reinsurance and specialty business. “The level of diligence, the sophistication of the underwriters, and the meticulous approach to claims performance all put Rokstone in step with the high expectations we hold all our partners to.”
Last year, Rokstone CRU launched an owners’ interest insurance program for the US market.
Have something to say about this story? Let us know in the comments below.
