QBE North America announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF) earlier this week, Through the alliance, QBE will offer coverage for miscellaneous errors and omissions cover, media liability, tech E&O and cyber.
The coverage will be written on an admitted basis through QBE North America’s A.M. Best “A” rated insurance companies. The arrangement was brokered by Stamford, Conn.-based TigerRisk Partners.
The parent company of PRF is ARC Excess & Surplus (ARC), a wholesale broker that was established 30 years ago to meet the needs of small- to medium-sized businesses seeking management & professional liability insurance solutions.
The new program will run in parallel with QBE’s existing commercial E&O offering, and is written on an admitted basis nationwide. It will be accessible from a specialized network of wholesale distribution partners, and will generate a maximum revenue of $5 million.
QBE’s internal Commercial E&O team will handle accounts with revenue over $5 million, along with complex accounts generating less than $5 million in revenue or falling outside of PRF’s class-of-business authority, the company explained.
In a statement, Stephen Cavallaro, manager of PRF said, “QBE is a globally strong, integrated specialist insurer. Our partnership provides us with a new opportunity to offer errors & omissions coverage to the industry. We look forward to serving the liability needs of this market.”
Source: QBE