HOWDEN SPECIALTY UNDERWRITERS FORMS PROGRAMME WITH LIBERTY INTERNATIONAL UNDERWRITERS
05 January 2011
Howden Specialty Underwriters, Hyperion Insurance Group’s US general agent, forms programme with Liberty International Underwriters.
Howden Specialty Underwriters LLC, a subsidiary of Hyperion Insurance Group Limited, and Liberty International Underwriters (LIU), the global specialty lines division of Liberty Mutual Group, now offer a management liability insurance programme focused on private companies with less than US$250 million in assets.
Founded by CEO Bobby Vernon, Howden Specialty Underwriters opened on January 1, 2011 to provide the US domestic market with management liability insurance products. Through the program with LIU, Howden will market, underwrite, bind and issue LIU Private Advantage Executive Liability policies giving private companies access to a full suite of management liability lines that includes directors and officers liability, employment practices liability, fiduciary liability, and crime coverage.
“The development of our group operations in the US continues apace,” said David Howden, CEO of Hyperion Insurance Group. “Over the past two years our North American property and casualty wholesale broking team, co-located in London and Miami, have established themselves among the leaders in their field. Alongside our current activity, and in line with the US model for general agents, the development of a US wholesale general agent is a natural next step for us to take in the region.”
The new programme will focus primarily on policies with limits of up to US$5 million.
“There is increasing appetite in the US for this product and this programme gives us the ability to leverage Howden’s distribution network, underwriting capabilities, and technology to better access this business,” said Alan Le Noble, Vice President LIU Management Liability. “We have written management liability through Howden on a global basis for eight years and look forward to continuing that successful relationship with Bobby Vernon here in the US”.
Hayley Langston / Marion May
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