Risk Placement Services has announced two promotions and the launch of a new errors and omissions program.
Zach Burdine, who currently serves as an area president, has assumed the additional role of vice president of national casualty, while Mike Mulvey has been promoted to executive vice president and construction practice leader for RPS’s Northeast region.
Burdine (pictured above) currently serves as area president in Texas, where he manages the binding/MGA production team. In his expanded role, he will be responsible for the strategic growth of RPS casualty teams throughout the country. Burdine has more than 20 years of industry experience in both production and direct underwriting. He will be based in Austin, Texas.
Mulvey (pictured below) is based in New York. In his new role, he will work across RPS’s regional offices to leverage market access and industry expertise in the placement of construction risks. Mulvey joined RPS as a commercial underwriter and broker in 2005, and has since held roles of increasing responsibility. Most recently, he led the RPS New York Metro office. Mulvey will report to Steve Levin, Northeast region leader.
New E&O coverage
RPS Signature Programs, the program administration division of RPS, has launched a new real estate appraisers E&O program with General Star National Insurance Company (GenStar).
Available to quote, bind and issue in two minutes through RPS’s Small Business Platform, the program provides E&O coverage for individual residential and commercial real estate appraisers. The coverage is designed to protect against claims arising out of an act, error or omission that results in a failure to render professional services for clients.
“At RPS Signature Programs, we are specialists in E&O and professional liability insurance coverages,” said Adrienne Woodhull, RPS Signature Programs area president. “We are pleased to extend this deep expertise to real estate appraisers, as this new program gives niche professionals the confidence that their unique E&O exposures are covered should a claim occur.”
“Combining the tremendous security and real estate E&O expertise of GenStar with the experience of RPS enhances the strength of both organizations,” said Matt Brown, senior vice president and delegated division manager at GenStar. “We are excited to move forward with this new program arrangement.”
“GenStar continues to respond to the marketplace with unique protection for real estate risks,” said Martin Hacala, president and CEO of GenStar. “GenStar is fortunate to team up with RPS to deliver the specialized protection needed by real estate professionals.”
Highlights of the new program include:
- Zero deductible
- Broad definition of professional services (includes incidental services such as a notary public, member of a formal accreditation committee, standards review committee or similar board or committee)
- Free extended reporting period for death, disability or retirement
- Defense costs outside limits of liability
- Prior acts coverage with proof of continuous coverage
- Free risk management assistance hotline for insureds.
The real estate E&O program offers limits up to $1 million for each claim to $2 million aggregate. It is available on an admitted basis in all states except Alabama, Louisiana, New York and West Virginia.