Beat Capital Partners, a London-based incubator of underwriting franchises and subsidiary of Ambac Financial Group, said it has launched a professional liability insurance company, based in Charlotte.
ProRise Insurance Services will stand up Oct. 1, with Doug Karpp, a former executive at Hiscox and AIG, as CEO, Beat Capital said in a news release.
ProRise, specializing in small and medium-sized business management coverage, will write for a consortium led by Beat Syndicate 4242 at Lloyd’s, company leaders said. Products will be distributed through wholesale brokers and will include private directors and officers, non-profit directors and officers, employment practices liability, fiduciary liability, crime, and professional liability insurance tailored for miscellaneous professionals, architects and engineers, and allied health professionals.
Beat has launched 12 businesses since its founding in 2017, the bulletin said.
Topics Carriers Excess Surplus New Markets Liability Lloyd's
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