XL Group’s North America Programs business and American Specialty Insurance & Risk Services, Inc., have formed a joint underwriting agreement to offer insurance programs for sports and entertainment industries.
According to Quinnon “Pete” Purvis, President of XL Group’s North America Programs unit, American Specialty is a well-established company insuring a wide variety of sports and entertainment businesses. The new arrangement, gives XL the opportunity to extend it capabilities and coverage to new industries.
XL Group’s North America Program business teams up with program administrators like American Specialty to underwrite, market, and administer insurance products targeted at niche markets or classes of business. Through its relationship with the XL Group of insurance companies, American Specialty provides property and casualty insurance programs for clients in the sports, motorsports, event, and entertainment industries, including: fairs, festivals, sports complexes, convention/civic centers, special events, motorsport race teams and tracks, professional and amateur sports teams and associations, stadiums/arenas, amusement parks, family entertainment centers, and pari-mutuel racing facilities.
Founded in 1989, American Specialty is a wholly-owned subsidiary of Brown & Brown, Inc. American Specialty specializes in insurance and risk services for the sports and entertainment industry. Over 50 niche programs are offered on a nationwide basis to the professional sports, amateur sports, motorsports, and Entertainment industries.
XL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. XL Group is the global brand used by XL Group plc’s insurance and reinsurance subsidiaries.