Provider of medical professional liability insurance, Coverys, has announced that Coverys Syndicate 1975 has received Lloyd’s of London approval to commence underwriting from January 1st, 2018.
Syndicate 1975 will have exclusive backing from Coverys, and will be managed by the insurer’s own managing agency, Coverys Managing Agency Ltd.
Syndicate 1975 will provide a new source of London-based insurance and reinsurance capacity, offering protection for physicians, hospitals, and other providers of healthcare, as well risk management and mitigation products designed to improve margins and increase the safety of patients.
Coverys President and Chief Executive Officer (CEO), Gregg Hanson, commented; “We are pleased to have reached this significant achievement in the ongoing expansion of Coverys’ offerings. The establishment of Coverys Syndicate 1975 will build upon our expertise in offering sophisticated insurance and reinsurance solutions for larger group practices and healthcare systems.”
The firm has also announced that Keith Bryceland will join in January to underwrite for Syndicate 1975, bringing more than 25 years of industry experience to the role. Most recently, Bryceland served as Senior Underwriter at Chubb Syndicate 2488.