Posted on 26 Jan 2011
Howden Specialty Underwriters, Hyperion Insurance Group’s U.S. general agent, and Liberty International Underwriters, the global specialty lines division of Liberty Mutual Group, now offer a management liability insurance program focused on private companies with less than $250m in assets.
Through the program with LIU, Howden said it will market, underwrite, bind and issue LIU private advantage executive liability policies giving private companies access to a full suite of management liability lines that includes directors and officers liability, employment practices liability, fiduciary liability, and crime coverage.
David Howden, CEO of Hyperion, said: “The development of our group operations in the US continues apace. Over the past two years our North American property and casualty wholesale broking team, co-located in London and Miami, have established themselves among the leaders in their field.
"Alongside our current activity, and in line with the US model for general agents, the development of a US wholesale general agent is a natural next step for us to take in the region.”
The new program will focus primarily on policies with limits of up to $5m.
Alan LeNoble, vice president LIU management liability, added: “There is increasing appetite in the US for this product and this programme gives us the ability to leverage Howden’s distribution network, underwriting capabilities, and technology to better access this business. We have written management liability through Howden on a global basis for eight years and look forward to continuing that successful relationship with Bobby Vernon here in