Ryan Specialty Group’s Global Special Risks (GSR), a subsidiary of RSG Underwriting Managers, LLC, has launched a new binding authority facility for the Upstream Solutions Energy Package, which provides products for oil and gas operators and non-operators of North American-based exploration and production companies. This new authority is the result of GSR’s relationships with the London insurance market and is backed by long-term oil, gas and energy underwriters at Lloyd’s of London.
The package will be underwritten in Houston by GSR’s Chief Underwriting Officer, Thomas Morelli. Lines of coverage available in the new package include: control of well (limits up to $50 million); primary general liability (limits up to $1 million, $2 million aggregate); umbrella (limits up to $10 million); and property (limits up to $20 million).
Steven J. England, president and CEO of GSR, said the new binding authority will provide improved turnaround times for its trading partners.
GSR specializes in underwriting various exposures in the upstream oil and gas business. The majority of GSR’s business is placed through exclusive programs, such as this new facility for Upstream Solutions.
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