2 April 2015 Insurance

CGSC North America launches MGA

CGSC North America has launched STATPro Underwriters, a managing general agency (MGA) serving the miscellaneous professional liability insurance market.

STATPro provides underwriting exclusively via Swett & Crawford wholesale brokers to retail brokers and agents in the US for small to mid-sized errors and omissions (E&O) risks up to $5 million of primary capacity.

CGSC’s latest MGA is led by Judy Biancardi as senior vice president and Samantha Gamble as vice president.

Tom Ruggieri, chief executive officer of CGSC North America, said: “The STATPro team, through analysing the miscellaneous E&O business placed by Swett & Crawford wholesale brokers, have been able to pool risks with similar profiles to meet the appetite of certain Lloyd’s Syndicates resulting in better pricing and coverage terms for brokers.

“The development and delivery of MGA businesses are an important part of the growth strategy for CGSC. STATPro has benefited from being able to leverage the technology and premium processing operation that already exists for other CGSC North America MGAs and its quick launch is further evidence of our ability to bring new products to market.”

Biancardi said: “We know that brokers want clear decisions on risks, fast, so our approach is straightforward. Whether through template underwriting offering an exceptionally fast turnaround time for smaller accounts or delivering technical underwriting skills and insight on more complex risks, the team is empowered to respond directly to the specific needs of Swett & Crawford brokers’ clients.”

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