Leading property and casualty (P&C) broker, NFP has announced its Financial Institutions Group (FIG) has selected broker and risk capital advisory TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London.
The line slip will enable global insurers, US regional and mutual insurance companies, managing general agencies, insurtech companies, and insurance linked securities (ILS) firms to transact business directly with the Lloyd’s market through NFP.
In a press release, NFP noted that the slip will include directors and officers (D&O) liability, errors and omissions (E&O), insurance company professional liability, MGA errors and omissions liability, insurtech professional liability, employment practices liability, fiduciary liability, financial institution bond, cyber security and privacy liability, and insurance liked securities – fund professional liability.
In addition, NFP added that TigerRisk, is currently out to market negotiating the Lloyd’s-backed slip, which will comprise a consortium of Lloyd’s syndicates and Lloyd’s-backed MGA’s.
“We are really excited to be working with NFP on a Lloyd’s-backed slip that will enable a variety of their clients to transact business directly through Lloyd’s,” said TigerRisk CEO Rob Bredahl.
“Conducting business with Lloyd’s can be complex, and we are delighted that NFP has chosen the TigerRisk solution to empower their clients to effectively manage this complexity.”
NFP senior vice president Natasha Kiemnec added: “The talent and caliber of the entire TigerRisk team is unparalleled. The relationships and brand they’ve built is world class, and we are absolutely thrilled to have them as our broker partner.”