Earthquake insurance underwriter, EQ One, has announced a new relationship with Munich Re Specialty Insurance, a division of Munich Re, to add additional capacity to its earthquake solutions.
This new partnership enables EQ One to write larger earthquake risks and serve as a single-source solution for broker partners nationwide, in spite hardening market conditions.
The EQ One DIC product will be underwritten by The Princeton Excess and Surplus Lines Insurance Company.
This enhanced coverage solution is part of an expanded endeavour between Munich Re Specialty Insurance and EQ One’s parent company, Alliant Underwriting Solutions (AUS).
Part of Alliant Insurance Services, AUS is a national program administrator with a growing portfolio of underwriting platforms generating more than $1.5 billion in annual gross written premium.
Kelley Bernal, Senior Vice President and Director of EQ One, noted: “Our new relationship with Munich Re Specialty Insurance reaffirms our commitment to providing brokers with an earthquake solution that is truly best in class while solidifying our long-term strategy to grow and expand our offerings. This will enable us to offer increased capacity with a solution written on outstanding paper.”
Kevin Johnson, President, Insurance Programs with Munich Re Specialty Insurance, added: “Working with EQ One offers Munich Re Specialty Insurance an opportunity to further expand our DIC business with a firm that has a strong industry reputation in the earthquake market.
“EQ One understands how to meet the needs of brokers from a wide range of disciplines and offers outstanding distribution, making this relationship highly advantageous for both organisations.”
