RSG expands risk programme; reveals new underwriting partnership
Ryan Specialty Group’s (RSG) ThinkRisk is expanding its converging risk programme and forming a new underwriting partnership.
ThinkRisk will transition its existing converging risk programme from Aspen US Insurance to certain underwriters at Lloyd’s of London.
As part of its programme enhancements, ThinkRisk plans to expand the annual revenue threshold to $1 billion and the introduction of cybercrime coverages.
The enhancements also include the ability to offer $10 million in primary policy limits, with up to $5 million in addition to the liability limit for first party data privacy related expenses.
The programme will offer broader cyber, privacy and media related coverages for certain segments of financial institution and real estate classes.
Nicole Haggerty, president of ThinkRisk, stated: “We are excited to broaden our programme’s appetite and now have the capability to offer cyber related coverages to many currently underserved classes within the SME market. Being able to consider firms with revenues up to $1 billion will also differentiate us in the marketplace.
“Additionally, new coverage enhancements such as cybercrime and the capability to now offer $10 million limits will significantly increase our market competitiveness and will offer a real ‘win’ for our brokers and their clients.”
Reza Khan, executive vice president of ThinkRisk, added: “The expansion of our converging risk programme is a recognition that cyber exposures are continually changing. Underwriters that service this segment need to address these evolving exposures if they are going to be able to continue to offer relevant coverage to their policyholders”.
