Rokstone Construction Risk Underwriters (Rokstone CRU), part of Rokstone, the Aventum Group’s international (Re)insurance MGA, has announced the launch of a $5 million Following Form Lead Excess insurance program for the US market.
Rokstone CRU specializes in Casualty and Builders’ Risk insurance. The Lead Excess product will sit exclusively above its Primary General Liability product and is focused on Controlled Insurance Programs for both Contractors and Owners as well as Project Specific policies for Contractors. The MGU has secured capacity on a non-admitted basis nationwide with R&Q Accredited America, rated A- IX (Stable) (A.M. Best).
This new offering gives brokers and their clients vital coverage in an area of the market with very limited capacity. Pairing the Primary and Lead Excess is simpler and quicker for the broker. It avoids gaps in coverage, and it eliminates friction between carriers, resulting in a better claims service for the client.
Richard Isgard, Head of Claims & Partner at Rokstone CRU, comments: “The Lead Excess space for Specialist Construction risks has become increasingly restrictive, so we’re delighted to have secured this valuable product for our clients. We’re providing access to much needed Lead capacity and by coupling the Primary and Lead Excess products, we have created a consistent claims platform, giving our clients the optimal claims experience. Dealing with just one point of contact for both the Lead Excess and Primary coverages will also be far simpler and expedient for our broker partners.
Rokstone is one of the world’s largest MGAs, with offices in the UK, Europe, USA, Asia, Africa, and the Middle East. It is a leading specialist MGA serving the needs of international (re)insurance brokers in specialty lines business. It currently underwrites $500m GWP in several specialty lines including Marine, Terrorism & Political Violence, Direct & Facultative Property, Treaty Property, Construction & Engineering and Liability.
Mike Simone, President of Rokstone CRU, comments: “This new product answers the call from our broker partners to reduce the strain and give customers certainty. The Rokstone platform will now offer superior claims management, disciplined underwriting and quality Risk Engineering services to our customers from the Primary through the Lead Excess.”
Dawn H. Puro, Chief Underwriting Officer, Casualty of R&Q Accredited America, said: “Rokstone CRU personifies the relationship between program administrator and R&Q Accredited. We see underwriting discipline and claims management expertise as being the key differentiator for successful managing agents. We are delighted to partner with such thought leadership in the Construction space.”