Rokstone Construction Risk Underwriters (Rokstone CRU) has today announced the launch of a $5 million Following Form Lead Excess insurance program for the US market.
The Lead Excess product will sit exclusively above its Primary General Liability product and is focused on Controlled Insurance Programs for both Contractors and Owners as well as Project Specific policies for Contractors.
The MGU is reported to have secured capacity on a non-admitted basis nationwide with R&Q Accredited America.
This offering is seen as a way of providing brokers and their clients with coverage in an area of the market with limited capacity.
Rokstone says pairing the primary and lead excess is simpler and quicker for the broker; it avoids gaps in coverage and eliminates friction between carriers, resulting in a better claims service for the client.
Richard Isgard, Head of Claims & Partner at Rokstone CRU, commented, “The Lead Excess space for Specialist Construction risks has become increasingly restrictive, so we’re delighted to have secured this valuable product for our clients.
“We’re providing access to much needed Lead capacity and by coupling the Primary and Lead Excess products, we have created a consistent claims platform, giving our clients the optimal claims experience.
“Dealing with just one point of contact for both the Lead Excess and Primary coverages will also be far simpler and expedient for our broker partners.”
Mike Simone, President of Rokstone CRU, added, “This new product answers the call from our broker partners to reduce the strain and give customers certainty.
“The Rokstone platform will now offer superior claims management, disciplined underwriting and quality Risk Engineering services to our customers from the Primary through the Lead Excess.”
Dawn H. Puro, Chief Underwriting Officer, Casualty of R&Q Accredited America, said, “Rokstone CRU personifies the relationship between program administrator and R&Q Accredited.
“We see underwriting discipline and claims management expertise as being the key differentiator for successful managing agents. We are delighted to partner with such thought leadership in the Construction space.”
