Venture capital investor Beat Capital Partners has launched a new specialist environmental managing general underwriter, in partnership with the former head of DUAL’s environmental business, Justin Crawford (pictured).
The new MGU, Magnolia Grove Insurance Services, will offer coverage to SMEs in the US on E&S lines for contractors’ pollution, site pollution, products pollution, commercial general liability, professional liability, and follow form excess liability. The unit’s policies will be written on “A” AM Best-rated E&S paper by a carrier recently established by Trean Insurance Group.
Beat has also tapped Crawford to serve as Magnolia Grove’s president and CEO. Crawford has held senior underwriting positions at DUAL, ACE Group (now called Chubb), and OneBeacon Insurance (now Intact Specialty Solutions).
“I am tremendously excited to launch Magnolia Grove and offer brokers a market they can truly partner with to provide their clients environmental insurance solutions,” said Crawford. “With backing and support from Beat, I am confident Magnolia Grove will become the go-to solution for the SME environmental market.”
“Beat is delighted to support Justin in the formation of Magnolia Grove,” said Beat Capital Partners CEO April Galda Joyce. “He brings an outstanding underwriting reputation and devotion to customer service, and he’s yet another great example of how Beat is attracting market leading underwriters and helping them build their own businesses.”
Magnolia Grove’s offering is available in selected states, with plans to expand in other states over the course of 2022. A release also noted that Magnolia Grove is Beat’s first US franchise, and it joins the eight other franchises the venture capital investor has established across the UK and Bermuda.