Ryan Specialty Group’s (RSG) ThinkRisk Underwriting Agency has entered into a new underwriting partnership for its Converging Risk program with Lloyd’s of London.
ThinkRisk will transition its existing Converging Risk program – specialized errors and omissions insurance for media, advertising, technology, privacy and network security risks – from Aspen U.S. Insurance to certain underwriters at Lloyd’s of London.
The move will expand the company’s underwriting appetite and offer enhancements including the expansion of the annual revenue threshold to $1 billion, the introduction of cyber crime coverages, and the ability to offer $10 million in primary policy limits (with up to $5 million limits in addition to the liability limit for first party data privacy related expenses).
ThinkRisk has also broadened its underwriting appetite to offer cyber, privacy and media related coverages for certain segments of financial institution and real estate classes including privately held insurance companies, financial advisors, mortgage brokers, real estate and title agents, collection firms and others.
ThinkRisk is an underwriting facility specializing in U.S. media, E&O, cyber and privacy related products. Coverage is available on both a primary and excess basis. ThinkRisk is a series of Ryan Specialty Group Underwriting Managers, LLC. RSG Underwriting Managers is a Delaware series limited liability company and a subsidiary of Ryan Specialty Group, LLC, specializing in underwriting management and other services for insurance products distributed through agents and brokers.
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