Specialty broker AmWINS Group Inc. has launched an Engineered Risk Practice within its brokerage division.
The Highly Protected Risk (HPR)/Engineered Risk practice handles property placements for insureds with generally $250 million in total insurable value (TIV) and up, including risks that may or may not be classified as pure HPR.
The practice can handle all aspects of an account, including catastrophe placements.
HPR property risks are characterized as low hazard due to high-grade construction and their priority on loss prevention including special fire protections.
AmWINS said it will work with multiple HPR carriers including AXIS Insurance, Lexington, XL, Zurich and others and that it will also provide risk engineering and risk management services.
The North Carolina-based broker said the brokers in this practice all have an HPR and engineered risk retail and/or carrier background and are located in several AmWINS offices.
“We have been successfully placing HPR/Engineered Risks for years,” said James Drinkwater, president of AmWINS Brokerage. “As we saw the opportunity to grow the segment and bring further expertise and services to our carrier and retail partners, we realized it was time to put a more robust organization behind this practice.”
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