Torus Adds Media Liability, Financial Institution Coverages

November 9, 2012

Torus has expanded its U.S. management liability and professional lines practice with the addition of two new specialty insurance products: media liability coverage for the media & entertainment segment; and financial institution bonds offering for the financial institution customer segment.

Torus has also appointed four new executives to its U.S. team. They include:

  • Sharon Raksnis, senior vice president, head of Financial Institutions;
  • Craig Grant, vice president, head of Private Company Management Liability;
  • Christopher Cooper, assistant vice president, Media Liability Practice Leader; &
  • Christine Cook, assistant vice president senior underwriter, Private Company Management Liability.

Torus has also added commercial E&O coverage to ESCAPE, Torus’ online portal for US brokers aimed at streamlining the quote-to-bind-to-issue process. With these enhancements, ESCAPE is now available for 75 E&O classes and enables producers to quote and bind multiple coverages under a single premium. ESCAPE was first launched by Torus in 2010 for brokers selling umbrella and high excess liability policies to small businesses.

Torus has expanded its professional liability product portfolio. Effective immediately Torus will underwrite financial institution bonds (“fidelity”) on both a primary and excess basis for the financial institution customer segment, including banks, insurance companies and asset managers.

In addition, Torus will also now offer media liability and film/video producers E&O coverage, on both a primary and excess basis, to the commercial E&O customer segment.

These offerings add to Torus’ portfolio of professional liability coverages available to private and public professional service providers, including technology, media & entertainment, allied health care and financial institutions. Specific offerings include directors & officers liability, professional lines (errors & omissions), privacy, network security and financial institution bond products. Torus underwrites capacity up to $10 million per risk.

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