Munich Re expands partnership with Risk Placement Services
Risk Placement Services (RPS), a managing general underwriter and wholesale insurance broker, has unveiled a new public entity programme through a partnership with Munich Re Specialty Insurance (MRSI), the insurance business operations of affiliated companies in the Munich Re Group.
Munich Re is a global provider of reinsurance, primary insurance and insurance-related risk solutions.
The new RPS programme expands upon an existing partnership with MRSI to offer a "first dollar, low deductible insurance product" for public entities and special districts.
The packaged insurance programme includes standardised coverages, such as general, auto, law enforcement, public officials and employment practices liability that can be supplemented by active shooter liability, special events, cyber liability and workers compensation.
“Law enforcement and public officers are under heightened scrutiny today, which has consequently led to greater exposures for their public entities,” said Bob Lombard, area president, RPS-PNP, a national programme administrator.
“RPS and Munich Re understand these unique risks, and this new program gives public entities the confidence that the coverage matches their needs, so they can continue serving their communities. MRSI’s extensive underwriting and claims expertise has positioned RPS to deliver a full portfolio of products to public entities,” Lombard added.
Kevin Johnson, head of insurance programmes, MRSI, said: “Munich Re has been a financially strong, consistent market for public entity business for more than 25 years. We are pleased to expand our partnership with RPS to offer the protection public entities need for their unique risks.”
