Ryan Specialty Group’s ThinkRisk and Aspen US Insurance Announce New Management Liability Insurance Program for Private Companies and Non-Profit Organizations
October 28, 2013, NEW YORK, NY – ThinkRisk Underwriting Agency (“ThinkRisk”), a division of RSG Underwriting Managers, LLC, and Aspen US Insurance (“Aspen”) announced today the launch of a new national management liability package program. The product is available on an admitted basis in most states and offers multiple coverage lines for a wide variety of private companies and non-profit organizations. This new policy suite will have the ability to offer Directors & Officers, Employment Practices, Fiduciary, Employed Lawyers and Crime coverage.
Raymond Hannan, Senior Vice President, US Underwriting Manager for Management Liability, Aspen, commented: “There has been noticeable market dislocation in recent months and we believe this is an opportune time for a fresh, nimble market with no legacy issues and deep underwriting expertise to bring innovative coverage solutions to brokers and their private company and non-profit clients.”
The new product was designed with many competitive coverage advantages to provide more comprehensive coverage solutions for private companies and non-profit organizations. A key differentiator is that every eligible management liability quote will also include a bind-able [in]TELLIGENCE℠ quote with separate, stand-alone policy limits. [in]TELLIGENCE℠ is a state of the art admitted media/cyber/privacy product offered by Think Risk and Aspen, which was announced earlier this year.
ThinkRisk’s President, Nicole Haggerty, noted: “We are excited to be able to provide a bind-able quote for both the management liability and the [in]TELLIGENCE℠ products from the management liability submission. We believe the ability to provide multiple products via a single point of entry will differentiate the Think Risk/Aspen partnership in the marketplace.”
The new management liability package program will be offered nationwide via a select group of approved producers who have demonstrated expertise in the management liability sector. Both the management liability package program and [in]TELLIGENCE℠ policy are supported by robust risk management, loss control and policyholder services.
About Ryan Specialty Group, LLC and ThinkRisk Underwriting Agency
Ryan Specialty Group, LLC is a global holding company which includes ThinkRisk Underwriting Agency and other highly-specialized underwriting companies and specialty services designed specifically for agents, brokers and insurers. www.ryansg.com
For information about these products, please contact:
Rick Barr, CPCU
Director of Business Development
ThinkRisk Underwriting Agency
+1 (813) 428 0858
About Aspen US Insurance (“Aspen”)
Aspen US Insurance, which is part of Aspen Insurance Holdings Limited (“Aspen Holdings”), writes property, casualty and specialty insurance in the United States on both a surplus lines and admitted basis through Aspen Specialty Insurance Company and Aspen American Insurance Company. An integrated team of underwriting and claims specialists in each business line provide customized solutions to complex and evolving risks. Aspen’s business lines include Property, Primary & Excess Casualty, Environmental, Marine, Energy and Construction, Management and Professional Liability, Commercial Surety and Programs. Further information about Aspen can be found at www.aspen.co.
About Aspen Insurance Holdings Limited (“Aspen Holdings”)
Aspen Holdings provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2012, Aspen Holdings reported $10.3 billion in total assets, $4.8 billion in gross reserves, $3.5 billion in shareholders’ equity, and $2.6 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of “A” (“Strong”) by Standard & Poor’s, an “A” (“Excellent”) by A.M. Best and an “A2” (“Good”) by Moody’s Investors Service.
Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995
This press release contains “forward-looking” statements regarding future results and events, including, without limitation, statements regarding the achievement of Aspen Holdings business plans. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as “expect,” “intend,” “plan,” “believe,” “project,” “anticipate,” “seek,” “will,” “estimate,” “may,” “aim,” “likely,” “continue,” “guidance,” and similar expressions of a future or forward-looking nature.
All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside Aspen Holding’s control, that could cause actual results to differ materially from such statements. For a detailed description of uncertainties and other factors that could impact the forward-looking statements in this press release, please see the “Risk Factors” section in Aspen Holdings’s Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities and Exchange Commission on February 26, 2013. Aspen Holdings undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information: Please visit www.aspen.co or contact:
Erin Smith, North America – Abernathy MacGregor
+1 (212) 371 5999
Kathleen de Guzman, Vice President, Investor Relations, Aspen
+1 (646) 289 4912