Core Specialty Insurance Holdings, Inc. and its subsidiaries have entered into an underwriting arrangement with AllDigital Specialty to provide Director’s and Officers, Employment Practices and Fiduciary Excess Liability Coverage, in support of Small to Medium sized private and non-profit organizations.
AllDigital utilizes low-touch/no-touch technology that will enable Core Specialty to operate a fast and efficient digital platform to quote, bind and issue policies within the US small private company management liability market segment.
In addition, the program will also be available to producers on a non-admitted basis.
Jeff Consolino, President & CEO of Core Specialty, commented: “We are pleased to work together with AllDigital to provide a greater number of small businesses with the insurance protection they need to operate in an increasingly complex business environment. This no-touch solution for wholesale brokers allows us to expand our reach in this under-penetrated market.”
Athula Alwis, Co-Founder and CEO of AllDigital Specialty, added: “We are thrilled to join with Core Specialty to bring our second Management Liability product, Excess to the market. The primary goal is to deliver an excellent product with speed and efficiency that our brokers expect from AllDigital.”
Meanwhile, in June 2022, Core Specialty completed its $65 million multi-year Yosemite Re 144A catastrophe bond, which was the final element of the company’s reinsurance program for 2022.