DUAL launches new broker PI facility
Specialist professional indemnity underwriting agency, DUAL Corporate Risks has secured new capacity for underwriting broker’s professional indemnity cover.
The £5m liability capacity, provided by AmTrust Group, is available for Lloyd’s brokers and also for UK and International brokers with incomes in excess of £5m.
Jennifer Martin, Underwriting Director at DUAL, commented: “In the past, DUAL has underwritten PI cover for a limited range of insurance brokers but this new capacity opens the doors to much bigger risks. Having personally underwritten Professional Indemnity for Lloyd’s Brokers for over ten years I am pleased to bring DUAL into this market place.”
“Many brokers now place their own cover directly in contrast to using a specialist broker and I have developed a strong connection with many of the brokers in this market over the years. Our approach at DUAL will be to underwrite brokers individually, evaluating the risks on a case-by-case basis,” she added.
Jennifer Martin joined DUAL in January 2010 from Brit Insurance and has over 20 years experience in the insurance industry.
ENDS
For further information please contact:
Michael Gaughan T: 020 7623 2368
M: 07796 140963
E: Michael.gaughan@fwdgroup.co.uk
Alexander Thompson T: 020 7623 2368
M: 07798 898277
E: Alexandra.thompson@fwdpr.co.uk
Notes to Editors:
About DUAL Corporate Risks
DUAL Corporate Risks is the UK operation of DUAL International. Established in 1998, DUAL International is the specialist underwriting arm of the Hyperion Insurance Group, focused on underwriting business critical risks including D&O, Professional Liability, Employment Practice Liability, Computer Crime and Fraud. DUAL International has become a well-established and respected leading underwriter with annual gross premiums of US$150 million and now employs over 120 people in the UK, Spain, Germany, Italy, Australia, Hong Kong, the Caribbean and the Americas.
The products offered by DUAL Corporate Risks are:
Directors & Officers
Professional Indemnity
Crime
Pension Trustee
Investor Protection
Office / Contents / EL & PL
About AmTrust
AmTrust Financial Services is a multinational property and casualty insurer specializing in coverage for small- to mid-sized businesses. AmTrust’s financial stability is based upon a philosophy of niche diversity with a focus on low-hazard risk.
In November 2006, the company became publicly traded on the NASDAQ Global Market under the symbol AFSI. With extensive underwriting experience and a prestigious "A-" (Excellent) Financial Size VIII rating from A. M. Best, AmTrust has earned a reputation as an innovative, technology driven provider of insurance products.
About Hyperion Insurance Group
Established in 1994 and headquartered in the City of London, the Hyperion Insurance Group is a fast expanding, independently owned insurance and underwriting company. Since its inception it has grown to become a leading global provider of specialist insurances. Hyperion employs over 550 people in 40 offices operating out of 18 countries. The Group was awarded a Queen’s Award for Enterprise in International Trade in April 2007.
Hyperion was ranked 25th in the 2009 Insurance Times Top 50 UK Brokers league table and 10th in Post Magazine’s 2008 Top 25 City Brokers report. It was also ranked for the second year running in the 2008 Sunday Times Buyout Track 100.
Hyperion is backed by 3i, a world leader in private equity, who in April 2008 acquired a 27% shareholding in Hyperion. With access to 3i’s capital, along with its resources and expertise, Hyperion is looking to continue its fast pace of growth, both organically and through acquisitions. It is also backed by specialist private equity investor, BP Marsh & Partners plc, and Murofo Investments SL.