E&S MGA Pivix Launches Casualty Program with Everspan
The new program, which will be written on an E&S basis, provides primary general liability coverage for targeted classes of business, including contractors, real estate, hospitality, and manufacturing accounts. It is the first product from Pivix’s recently formed brokerage division.
“In light of the rapidly growing opportunity in the wholesale market for E&S products, and the need for experienced underwriters to provide product solutions within the casualty market, Primary GL made the most sense as the initial program for the brokerage platform,” said Michael Gramm, Senior Vice President and Chief Underwriting Officer-Brokerage at Pivix. “Everspan was the perfect fit as a carrier partner. Their commitment to and expertise in E&S casualty lines enabled us to quickly establish this program.”
Darwin Lucas, Chief Underwriting and Reinsurance Officer for Everspan, added, “We are excited to support the launch of this E&S casualty program. The Pivix team’s reputation and underwriting track record are exceptional, which is what Everspan seeks in a program partner. We anticipate a strong reception from the market for this product as a result of Pivix’s expertise and service-oriented approach.”
Pivix launched last fall as an E&S platform. Initially Pivix developed a contract binding program targeting small commercial businesses with property and general liability coverages, written exclusively through select wholesale brokers. The brokerage unit will target brokered E&S business produced exclusively through wholesale brokers.
“The primary general liability program is a natural starting point for building out the brokerage platform,” said Mike Miller, President and CEO of Pivix. “This program will be targeting different risks than the contract binding program, but our ability to utilize the same core technology platform will provide an immediate benefit in terms of speed and efficiency for our wholesale broker partners.”
About Pivix
Pivix Specialty Insurance Services Inc. (“Pivix”) is a managing general agent specializing in excess & surplus (E&S) casualty and property lines distributed exclusively through wholesale brokers. Headquartered in
About Everspan Group
Everspan Group is a specialty property and casualty insurance platform that operates nationwide on an admitted and non-admitted basis. The companies that comprise the Everspan Group are wholly owned subsidiaries of Ambac Financial Group, Inc. (NYSE: AMBC), an insurance holding company. For more information, please refer to www.everspangroup.com.
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Kate Smith
Director, Corporate Communications
(212) 208-3452
ksmith@ambac.com
Source: Ambac Financial Group, Inc.
