Celerity Risk, a professional, management, and cyber liability solutions managing general underwriter (MGU) for wholesale brokers, has launched its directors and officers (D&O) and professional liability insurance solutions with quotes up to $5 million for financial institutions and financial services companies.
Celerity Risk is part of Ryan Specialty’s underwriting management speciality, Ryan Specialty Underwriting Managers. Effective immediately, the MGU will offer D&O and professional liability coverage, written by insurers with an AM Best Financial Strength rating of A+, on a tailored primary and excess basis for financial firms of nearly all sizes.
Carl Pursiano, President, Management Liability, Celerity Risk, commented, “Celerity Risk’s expansion into financial institutions builds on our underwriting expertise and gives us the ability to offer products designed for banks, asset managers, and other financial firms with responsive, broker-focused insurance solutions. This offering reflects our commitment to disciplined underwriting and managed growth in the financial institutions space.”
The MGU will now provide specialised insurance protection across investment advisors and Mutual Funds: D&O and PL Blend, Excess; Private Equity and Hedge Funds: D&O and PL Blend; and Excess, Banks and Non-Bank Lenders: D&O and PL Blend, Excess.
Other areas covered include Insurance Companies: D&O and PL Blend, Excess; Real Estate Investment Trusts: D&O, Primary or Excess; FinTech, Insurtech; and Other Financial Firms: D&O, Primary or Excess.
Patrick Mitchell, President of North America, Celerity Risk, added, “Celerity Risk continues to strengthen its platform in a measured and strategic way. This expansion reinforces our ability to deliver a broad range of professional and financial lines solutions supported by strong underwriting expertise and well-regarded capital.”
