QBE North America Forms Alliance with MGA Professional Risk Facilities

QBE North America, an operating division of QBE Insurance Group Ltd., announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF), designed to offer coverage for miscellaneous errors & omissions (E&O) cover, media liability, tech E&O and cyber.

This coverage will be written on an admitted basis through QBE North America’s A.M. Best “A” rated insurance companies. The arrangement was brokered by Stamford, Conn.-based TigerRisk Partners.

The parent company of PRF is ARC Excess & Surplus (ARC), a wholesale broker that was established 30 years ago to meet the needs of small- to medium-sized businesses seeking management & professional liability insurance solutions.

The new program will run in parallel with QBE’s existing commercial E&O offering, and is written on an admitted basis nationwide. It will be accessible from a specialized network of wholesale distribution partners, and will generate a maximum revenue of $5 million.

QBE’s internal Commercial E&O team will handle accounts with revenue over $5 million, along with complex accounts generating less than $5 million in revenue and/or falling outside of PRF’s class-of-business authority, the company explained.

“We’re excited to announce our alliance with PRF to offer a suite of commercial E&O products to the marketplace,” said Erin Fry, senior vice president, Specialty Programs, QBE North America.

“QBE is a globally strong, integrated specialist insurer. Our partnership provides us with a new opportunity to offer errors & omissions coverage to the industry. We look forward to serving the liability needs of this market,” affirmed Stephen Cavallaro, manager of PRF.

Source: QBE

Topics Insurance Wholesale