NYMAGIC Builds Surplus Lines Brokerage Network

September 15, 2008

NYMAGIC, Inc. reported that its MMO Agencies unit has begun to write new business through 10 offices of surplus lines agents in Florida, New York, New Jersey and Kentucky, and that it expects to add offices of surplus lines agents in Massachusetts, West Virginia, Arizona and Oklahoma within the next several weeks.

NYMAGIC announced on April 16, 2008 that it had formed MMO Agencies to develop a book of general liability and property business through a nationwide network of select surplus lines agents. These agents, the company said, will act on behalf of NYMAGIC and have authority to bind policies, subject to underwriting criteria established and monitored by NYMAGIC.

NYMAGIC specializes in writing ocean marine, inland marine and non-marine liability insurance. The company maintains offices in New York, San Francisco and Chicago.

Glenn R. Yanoff, executive vice president of NYMAGIC and president of MMO Agencies, said his company is continuing to meet with other surplus lines agents and plans to extend its efforts to establish a nation-wide network.

Source: NYMAGIC, Inc.

Topics Agencies Excess Surplus

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