QBE announces new coverage; Program underwritten by Professional Risk Facilities
New York, NY – QBE North America, an operating division of QBE Insurance Group Limited, announces a strategic program underwriting alliance with Professional Risk Facilities (PRF), brokered by Tiger Risk, to offer coverage for Miscellaneous E&O, Media Liability, Tech E&O and Cyber. This coverage will be written on an admitted basis through QBE North America's A.M. Best "A" rated insurance companies.
PRF is a managing general agent delivering exceptional service and proven results with an expanding range of financial products. The parent company of PRF is ARC Excess & Surplus (ARC), which was established 30 years ago to meet the growing needs of small- to medium-sized businesses seeking Management & Professional Liability insurance solutions.
Our new program will run in parallel with our 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 target small Miscellaneous E&O, Media Liability, Tech E&O and Cyber accounts, generating a maximum revenue of $5M. QBE's internal Commercial E&O team will handle accounts with revenue over $5M, along with complex accounts generating less than $5M in revenue and/or falling outside of PRF's class of business authority.
"We're excited to announce our alliance with PRF to offer a suite of Commercial E&O products to the marketplace," said Erin Fry, Senior Vice President, Specialty Programs, QBE North America. "The powerful combination of QBE's creative coverage solutions and PRF's proven track record of program administration will provide significant value."
Stephen Cavallaro, Manager of Professional Risk Facilities added, "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."
According to Jeff Grange, President, Specialty Insurance, QBE North America, "We are delighted to partner with ARC. They are a proven partner that fits our specialist to specialist model, in addition to our limited and preferred distribution model. QBE and ARC both share the goal of providing solutions that meet the ever-changing needs of our customers by providing innovative and creative solutions. These offerings meet the risk management needs of our customers facing new and emerging risks in their businesses."
About Professional Risk Facilities
Professional Risk Facilities (PRF) is a wholly-owned subsidiary of ARC Excess & Surplus (ARC). ARC was established in 1986 to meet the growing needs of small- to medium-sized businesses seeking Management & Professional Liability Insurance solutions. Today, ARC stands for superior service, proven results and a commitment to excellence. Since opening their doors, they have spread to eight offices throughout the country, becoming the sixth largest wholesale broker ranked by Business Insurance, and a top-five producer with all major Management & Professional Liability Insurance carriers.
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2016 of $4.6 billion. QBE Insurance Group's 2016 results can be found at www.qbe.com/us. Headquartered in Sydney, Australia, QBE operates out of 37 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. The actual terms and coverage for all lines of business are subject to the language of the policies as issued. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbe.com/us, or by following QBE North America on Twitter.
Contact Peter Scott, Lead Communications Partner, QBE North America, 212.894.7781, firstname.lastname@example.org