The latest news from iSure for you;
iSure, Ireland’s specialist SME insurance MGA in Ireland, part of the International Speciality (Re)Insurance MGA Rokstone, has announced the renewal of a long-term professional Indemnity (PI) capacity deal with Great American International Insurance (EU) DAC, which is A+ rated by Standard & Poor’s.
The PI facility covers a comprehensive wide range of professional and financial lines risks, with limits of €2.5m primary and a €5m excess of loss.
Terry Dunne, Senior PI Underwriter at iSure, comments: “Whilst PI rates have broadly softened, securing this long-term capacity with a quality partner like Great American is a huge endorsement of our strategy, our use of data and technology, and our proven portfolio performance. We took a careful and measured approach from the outset, and that discipline has paid off. We launched PI just two years ago to a select number of broker partners; today we’ve doubled the GWP (Gross Written Premium) and widened our broker distribution considerably. This latest partnership will allow us to continue to expand and diversify our portfolio with confidence.”
Brokers are also set to benefit immediately. Following the announcement, iSure has confirmed it will increase broker commissions across the board, reflecting its commitment to its distribution partners.
Terry Dunne continues, “I’m delighted to say that careful management of the portfolio, combined with this latest capacity deal has afforded us the opportunity to maintain a broad broker distribution whilst announcing an increase in our broker commissions. It’s great news for brokers and another step forward in our ambition to becoming one of the most recognisable and trusted Commercial Insurance names in the Irish market.”
Sean Murray, CEO of iSure, comments: “This renewed capacity not only strengthens our PI offering but also underlines iSure’s wider proposition – combining specialist expertise, disciplined portfolio management and the support of highly rated carriers. Most importantly, it ensures we can continue to deliver real value to the policyholder, as well as highly responsive specialist solutions and market-leading capacity to our broker partners. Our goal is to give brokers the confidence and tools to grow their businesses alongside us, while building a platform of trust and consistent growth across the Irish SME insurance market.”
iSure is part of Rokstone, 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 USD 1.1bn GWP in several specialty lines including Property, Power Generation, Marine, Aviation, Agriculture, Construction & Engineering, A&H and Liability.
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