Liberty Mutual Agency Markets has announced a new product line and distribution channel for its newly-created Specialty Products Group, which has been formed by the consolidation of Liberty Mutual Surety, the former Ohio Casualty Bond and other specialty lines.
The group is comprised of three operating units:
• Liberty Agency Underwriters – Bond, which offers domestic small- to middle-market surety and fidelity capacity for businesses and individuals; it is a market for construction performance, payment, and bid bonds, license and permit, probate, public official, and other commercial surety bonds, fidelity bonds, and financial institution bonds, all of which will be sold through independent agents.
• Liberty Agency Underwriters – Excess Casualty and Programs, which offers unsupported lead umbrella, excess liability, and excess capacity policies to, as well as a national network of umbrella/excess appointments; it includes Liberty Agency Underwriters – Programs unit.
• Business Development Group, which provides product management oversight for specific specialty lines offered by the regional companies; current lines within the group include custom homebuilder, inland marine, Midwest farm, and schools program.
“The creation of the Specialty Products Group gives our agents a broader product line, a wider customer base, and access to the expertise necessary to write these specialty lines,” said John Busby, who was appointed senior vice president, Agency Markets, and chief operating officer, Specialty Products Group, following Liberty Mutual Group’s acquisition of Ohio Casualty Corporation in August 2007. “This new operation reinforces Agency Markets’ position as the nation’s largest regional provider of property and casualty products distributed through independent agents.”
Last year, Liberty Mutual Surety, Bond, Excess Casualty, and Programs operations collectively wrote more than $440 million in direct written premium.
Source: Liberty Mutual Group
Topics Excess Surplus New Markets Casualty
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