Emerald Bay Risk Solutions, a collaborative underwriting carrier specialising in tailored insurance solutions, has formed a strategic partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group managing a significant portfolio of luxury residential and commercial real estate properties.
Through this partnership, they will launch a casualty programme focused on providing excess liability coverage for high-end co-op and condominium buildings in New York City and select major metropolitan areas.
“Emerald Bay’s collaborative model and tailored approach to underwriting was a crucial factor in our decision to create this partnership,” added David Rosen, President and Chief Executive Officer of Vanderbilt.
“Not only is Emerald Bay retaining a meaningful risk position in the program, but they have also helped enhance our business by creating solutions to augment our operational infrastructure with cutting edge technology that ensures long term sustainability.”
The programme benefits from reinsurance led by a top-rated carrier with an A++ rating from AM Best. Emerald Bay and Vanderbilt also collaborated closely to develop and deploy a modern, cloud-based, data-driven technology infrastructure to enhance operational efficiency.
“We are thrilled to partner with Vanderbilt for our first casualty programme,” commented Ken Sharp, Head of Casualty Underwriting at Emerald Bay.
“Our deep underwriting expertise will enable us to drive a differentiated risk management architecture that is closely aligned with our partners. This collaboration marks a significant milestone for Emerald Bay as we expand our capabilities in the insurance market with innovative, client-centric solutions.”
“Our ability to collaborate goes beyond underwriting to also include bespoke technology solutions that support the modernisation of our partners’ businesses,” said John Lucking, Chief Technology Officer at Emerald Bay.
Lucking continued: “By working closely with the Vanderbilt team, we developed custom, cloud-based solutions that streamlined operations and enhanced data analytics capabilities to drive operational efficiency and long-term business growth.”
