American Safety Insurance Services, Inc. says it will enter the general liability market for non-construction risks and expand its capability to offer excess and umbrella liability coverage.
The target market for the non-construction coverage will be primary general liability for current and discontinued industrial, commercial and consumer products. Premiums begin at $7,500, with self insured retentions and deductibles beginning at $2,500.
With the introduction of the new excess liability product, ASI will be able to offer limits up to $5 million over ASI’s primary, as well as other carriers’ primary policies. Premiums begin at $2,500 for low and medium hazard risks and $7,500 for high-hazard risks.
Both products will be marketed and underwritten by a team which includes Patricia Hindle, Joseph Savarese and Gerard O’Neill, all of whom have recently joined ASI. The new products will be offered through ASI’s new Middletown, New Jersey office.
According to Geoff Gregory, chief underwriting officer for American Safety Insurance Services, Inc., ASI’s expansion into these areas of casualty represents an opportunity to offer a more diverse portfolio of insurance products. “Based on feedback from our current producer base, we feel that these two new products demonstrate our commitment to providing insurance programs for underserved specialty risks,” he said
Both products are written on a non-admitted basis on American Safety Indemnity Company paper.
ASI is a subsidiary of American Safety Insurance Holdings, Ltd., (NYSE:ASI), a Bermuda-based holding company.
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