The latest coverage news from Price Forbes;
Price Forbes today announces it is expanding its cross-class follow facility, Lectio, to include casualty lines. The expanded offering will be available across the US, Canada and Australia, providing Price Forbes’ clients with automatic access behind pre-approved lead insurers across these classes.
Casualty is one of Price Forbes’ largest lines of business across its platforms, making this expansion a largescale improvement to the team’s capability and a significant step in Lectio’s growth strategy.
Lectio was launched in April 2021 to provide Price Forbes’ clients and brokers guaranteed access to exclusive capacity. The platform initially offered cargo, specie, financial products, healthcare and marine insurance with circa c.$350m in scope.
Today, the facility has been expanded across multiple classes, including aviation, cargo/stock throughput, construction/builders risk, cyber, onshore and offshore energy, financial institutions, marine, worldwide property, power and now, casualty with c.$1.6 billion of premium now in scope. Lectio enables Price Forbes’s clients, and their brokers guaranteed access to its exclusive capacity.
Dan Walsh, chief underwriting officer, Ardonagh Specialty, said: “Expanding into Casualty is a natural fit for Lectio so that we can serve this core class of business for the London market. Moreover, it provides Price Forbes with a critical competitive advantage, allowing us to offer long-term sustainable capacity to our clients through all insurance cycles.”
Be the first to comment