Liberty International Underwriters US, or LIU, has announced the launch of its Excess and Surplus Lines (E&S) Property product.
The E&S Property product provides wholesale brokers with a new market for their clients' commercial property business and targets their mid- and large-sized property portfolio risks with capacity up to $25 million. LIU, a division of Liberty Mutual Group, has brought on Michael J. Carr to manage this new line of business.
Mr. Carr has 18 years of E&S property experience and brings to LIU experience in managing, developing and underwriting commercial property insurance products and programs. LIU's E&S Property product features include all risk, named windstorm, difference in condition, flood and earthquake in catastrophe-exposed areas.
"Our goal is to be a premier US specialty lines market with broad product capabilities," said David Cohen, president of LIU US. "Now that we have completed expansion of our existing products into key market areas, launching a new major product line was the next logical step in our strategy. Michael's experience in managing and underwriting E&S property business, combined with Liberty Mutual's financial strength and stability, gives brokers a competitive product to offer their clients."