CGSC North America has launched STATPro Underwriters, a managing general agency serving the Miscellaneous Professional Liability insurance market
STATPro provides underwriting exclusively via Swett & Crawford wholesale brokers to retail brokers and agents in the U.S. for small to mid-sized errors and omissions (E&O) risks up to $5 million of primary capacity.
Cover is available on Miscellaneous E&O classes for a range of professions including claims adjusters, real estate agents/brokers, appraisers, employment agencies and event planners.
CSGC said STATPro underwrites on Lloyd’s of London paper; a facility placed by CGSC Group’s Lloyd’s brokering operation, CGNMB LLP.
The MGA is located in New York.
STATPro’s underwriting team is being led by Judy Biancardi as senior vice president and Samantha Gamble, vice president, who bring a combined 35 years of in professional liability and casualty markets at firms including ACE, Chubb, Hiscox USA and Houston Casualty.
Tom Ruggieri, CEO of CGSC North America, said the STATPro team has been able to pool risks with similar profiles to meet the appetite of certain Lloyd’s Syndicates by analyzing the Miscellaneous E&O business placed by Swett & Crawford wholesale brokers. He said the results include better pricing and coverage terms for brokers.
Ruggieri said the development of MGA businesses is an “important part of the growth strategy for CGSC.”
Claims under the STATPro policy are handled by Wilson Elser Moskowitz Edelman & Dicker LLP.
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