Posted on 06 Aug 2010
Windsor, CT-based Business Risk Partners has purchased the renewal rights to the Miscellaneous Professional Liability book of Houston, TX-based ProAssurance Mid-Continent Underwriters Company, effective immediately.
Underwriting on behalf of Lloyd's, BRP will offer renewal policies to any qualifying ProAssurance Mid-Continent Insured. The transaction includes most segments of MPL including real estate professionals (with the exception of the title and escrow segments), home inspectors, property managers, consultants of all types, claims adjusters, staffing and HR firms, architects, engineers, and technology firms.
Commenting on the transaction, BRP CEO and co-founder Lisa Doherty noted, "It's remarkable the similarity between ProAssurance Mid-Continent's risk portfolio and our own. As both coverholders for Lloyd's, we share the same appetite for risk. We are confident that BRP will maintain the same high level of coverage, service and expertise that ProAssurance Mid-Continent producers have come to expect. Agents and brokers can rest easy knowing BRP will continue uninterrupted coverage for their clients."
Larry Keefe, President of ProAssurance Mid-Continent Underwriters, added, "It's important to us that our producers are taken care of which is why we selected BRP with its breadth of risk appetite, quality products and dedication to service. Our producers and their clients will be in good hands."
Terms of the deal were not disclosed.