Ryan Specialty Group, LLC (RSG) has formed RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with the healthcare and life science underwriters at Lloyd’s of London. Lloyd’s support for this comes from Amlin, Chaucer, Catlin, Hiscox, Atrium, Ren Re and Dale, resulting in the largest, single healthcare coverholder arrangement in Lloyd’s. The facility was developed in partnership with RKH Insurance Brokers in London.
The landmark underwriting facility brings together the RSGUM businesses of Sapphire Blue and LifeScienceRisk under a single underwriting facility. It will target a broad array of healthcare and life science business. Targeted healthcare classes include: long-term care; allied healthcare; specialty and rehabilitation hospitals; and standalone extended reported period products. The life science classes include generic pharmaceuticals, branded pharmaceuticals, medical products, nutritional supplements and clinical trials. The facility will offer primary and up to $25 million in excess coverage for professional, general and products liability coverage.
The overall RSGUM Healthcare facility will be managed by Kieran Dempsey, CEO of RSGUM Healthcare. Medical professional liability business will be underwritten and managed by Nancy McMahon, CEO of Sapphire Blue. Products liability business will be underwritten and managed by Mark Wood, CEO of LifeScienceRisk.
Ryan Specialty Group, LLC (RSG) is a global holding company which includes highly-specialized underwriting companies under the RSG Underwriting Managers, LLC brand, a London operation, wholesale brokerage and other specialty services designed specifically for agents, brokers and insurers. RSG Underwriting Managers Sapphire Blue and LifeScienceRisk are among the earliest members of the RSG family of companies.