Munich Re Specialty Insurance adds new E&S management liability solution
Munich Re Specialty Insurance (MRSI) has released a new E&S management liability solution for private companies and non-profit organizations, marking the latest product in the build out of the North American commercial insurance unit of the German reinsurer.
The new solution provides coverage that is available through select wholesale brokers for a range of classes, including manufacturing, services, retailers, wholesalers, hospitality, real estate and construction. It includes D&O liability with entity, employment practices liability, fiduciary liability and crime.
Coverage is underwritten by MRSI’s A+ rated carriers and is offered on a non-admitted basis for both primary and excess protection.
MRSI noted that over the past two years management liability coverage has become an increasingly important protection for businesses and organizations as they have navigated financial uncertainties caused by the pandemic and adjusted strategic priorities.
“MRSI’s management liability product is designed to meet the capacity demand for creative solutions by underwriting through evolving exposures in the private D&O and non-profit sectors,” said Marcia Blanco, head of financial lines, excess and surplus underwriting at MRSI.
MRSI’s financial lines E&S offerings also include lawyers professional liability and miscellaneous professional liability coverage, which were both launched last year.
MRSI was set up at the end of 2018, and is led by former Zurich Insurance Company general insurance CEO Mike Kerner.
It brought together the company’s existing North American commercial insurance business that already generated around $1.3bn of GWP, including business written by its programs, binders and public entities business.
MRSI in 2020 also unveiled a senior living healthcare liability segment, adding to 2019’s move into the E&S property, primary casualty and excess casualty segments.