Reinsurance News

AccuRisk sets up ancillary unit, acquires Texan business

9th October 2020 - Author: Matt Sheehan

AccuRisk Solutions, a managing general underwriter (MGU) focused on employee and health insurance benefits, has set up a new ancillary unit and acquired the renewal rights to Great American Insurance Group’s book of Texas non-subscription business.

The new ancillary unit, called, AccuRisk Ancillary Solutions, which will be led by Joyce Segall as President.

AccuRisk Ancillary’s products will focus on supplemental health/GAP medical, personal accident, hospital indemnity, various episodic coverages and new products including accident dental, cosmetic procedure protection, and children’s critical illness.

“AccuRisk is proud and excited to launch our new entity, AccuRisk Ancillary Solutions, to continue our mission of bringing innovative products and risk management strategies to the market,” said Daniel Boisvert, CEO of AccuRisk.

“Our Ancillary entity is unique in that we offer cutting edge products that serve a much-neglected segment of our population. We’re honored and proud to be representing them.”

Segall has more than 20 years of underwriting, product development, profit and loss management, and development of compliant benefit and service solutions.

She has previously worked for a number of A&H insurers, including AIG, Starr Indemnity and Reliance National.

“I am so thrilled about joining the AccuRisk team and helping form AccuRisk Ancillary Solutions and look forward to reaching new and untapped markets that could greatly benefit from its products,” said Segall.

Turning to the acquisition from Great American Insurance Group, Boisvert said: “We have come to agreement with Great American to assume the run-off administration of their existing book of Texas non-subscription business. We will also be offering current Great American policyholders competitive terms upon the expiry of their current policies via our relationship with Convex Insurance.”

“Our goal in assuming the run-off and hiring the Great American administrative team is to provide existing Great American policyholders a seamless transition with respect to claims and policy administration. We intend to be the industry leader in the Texas non-subscription market and in the occupational market in general,” Boisvert explained.

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