Recently launched specialty insurance carrier, Core Specialty Insurance Holdings, Inc., has partnered with AmWINS Program Underwriters (APU) to provide insurance solutions for APU’s Long-Term Care Facilities program, effective January 1st, 2021.
The Long-Term Care Facilities program’s primary lines of business are professional and general liability, primary and excess.
An announcement on the agreement explains that the program will be available across the U.S. on a non-admitted basis through StarStone Specialty Insurance Company, and has around $50 million in annual gross premium income.
Core Specialty’s StarStone Specialty subsidiary, which it acquired recently from Enstar, previously underwrote the program from 2013 to 2017.
Ben Francavilla, President of APU, a managing general agency within the underwriting unit of AmWINS Group, commented: “APU has partnered with Core Specialty due to its deep understanding of and commitment to the long-term care insurance space, which positions the trajectory of the program for continued success.
“We are confident that this new partnership will provide longstanding value to customers as the demand for this type of coverage continues to increase.”
Matthew Wasta, Vice President & Program Manager of APU’s Long-Term Care Facilities program, said: “Our underwriting team is committed to identifying solutions for the evolving challenges our clients are facing in this niche industry. We will continue to focus on the superior level of service we are known for during this transition.”
Ryan Young, Senior Vice President of Healthcare for Core Specialty, added: “We are excited to partner with an established underwriting team and distribution which will expand our existing excess insurance solutions to the long-term care industry in a challenging market.”
While Jeff Consolino, Chief Executive Officer (CEO) of Core Specialty, said: “Healthcare is a business we know well, and we are well-positioned to act on opportunities in a market that remains in a correction mode. The APU Long-Term Care Facilities program is a great strategic fit for us. It complements our existing Healthcare book and will allow us to grow our footprint within an existing specialty niche that is performing very well for us. We look forward to working with APU to provide a smooth transition for policyholders.”
