RSG’s ThinkRisk Underwriting Agency Announces Converging Risk Program Expansion and New Underwriting Partnership
May 18, 2016, CHICAGO, IL – Ryan Specialty Group’s (RSG) ThinkRisk Underwriting Agency (ThinkRisk) announced today that they have entered into a new underwriting partnership that will significantly expand their underwriting appetite, increase their available capacity and enhance and expand the coverage under their current Converging Risk program. ThinkRisk will transition its existing Converging Risk program – specialized errors and omissions insurance for media, advertising, technology, privacy and network security risks – from Aspen U.S. Insurance to certain underwriters at Lloyd’s of London.
Program enhancements include the expansion of the annual revenue threshold to $1 Billion, the introduction of Cyber Crime coverages, the ability to offer $10M in primary policy limits (with up to $5M limits in addition to the liability limit for First Party Data Privacy related expenses), broadening of its underwriting appetite to offer cyber, privacy and media related coverages for certain segments of Financial Institution and Real Estate classes including privately held insurance companies, financial advisors, mortgage brokers, real estate and title agents, collection firms and others.
ThinkRisk’s President Nicole Haggerty stated, “We are excited to broaden our program’s appetite and now have the capability to offer cyber related coverages to many currently underserved classes within the SME market. Being able to consider firms with revenues up to $1 Billion will also differentiate us in the marketplace. Additionally, new coverage enhancements such as Cyber Crime and the capability to now offer $10M limits will significantly increase our market competitiveness and will offer a real “win” for our brokers and their clients.”
ThinkRisk’s Executive Vice President Reza Khan added, “The expansion of our Converging Risk program is a recognition that cyber exposures are continually changing. Underwriters that service this segment need to address these evolving exposures if they are going to be able to continue to offer relevant coverage to their policyholders”.
For more information about these program enhancements and distribution opportunities, please contact: Reza Khan, firstname.lastname@example.org, 646-612-7808.
ThinkRisk is a leading underwriting facility specializing in U.S. media, E&O, cyber and privacy related products. Coverage is available on both a primary and excess basis. www.thinkrisk.com
ThinkRisk is a series of Ryan Specialty Group Underwriting Managers, LLC. RSG Underwriting Managers is a Delaware series limited liability company and a subsidiary of Ryan Specialty Group, LLC, specializing in underwriting management and other services for insurance products distributed through agents and brokers. In California: RSG Insurance Services, LLC, Lic. #0E50879. © 2016 Ryan Specialty Group, LLC
About Ryan Specialty Group:
Ryan Specialty Group, LLC, is a global holding company that includes a wholesale brokerage, highly specialized underwriting management companies and specialty services designed specifically for agents, brokers and insurers. www.ryansg.com