Ryan Specialty MGU bags $100m risk capacity in ‘very challenging’ class of business
Ryan Specialty Group’s (RSG) managing general underwriter focused on construction has secured a $100 million of wood frame builder’s risk capacity, which it says is an “exceptional” offering in a “very challenging” class of business.
The newly secured wood frame capacity is offered in addition to Technical Risk Underwriters’ (TRU’s) $150 million of construction builder’s risk capacity and $100 million of critical flood, earthquake and/or named windstorm capacity.
TRU credited its innovative loss control methods including utilising thermal technology solutions to reduce risk of fire, implementing water flow detection systems to reduce water damage losses, and designing new security solutions for construction projects for securing the additional capacity.
TRU chief executive officer Katie Davies (pictured) said: “We are thrilled to have secured this new wood frame capacity, which will help fill a growing need in the industry. We are so proud of our team and the work they do every day, and we are excited to continue innovating in this sector.”
Its president Chris Burns added: “This groundbreaking achievement is a testament to the skills of our veteran underwriters and forward-thinking loss control team, which has allowed us to further solidify our leadership position in this very challenging class of business.”
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