UK’s Castel Underwriting Agencies has launched a new underwriting unit to focus on the professional services firms’ operations in the US.
The new cell, called North American Professional Liability (NAPL), has secured capacity with a global A+ rated carrier and has begun underwriting businesses.
NAPL is writing both the primary and excess layer coverage for larger risk-managed clients such as law firms, accountants, architects and engineers and construction risks.
Former directors and underwriters of Pioneer North America Patrick Comerford and Clive Moore will jointly lead the NAPL.
Castel chief executive Mark Birrell said: “Patrick and Clive are two of the best-known underwriters in this market. Working with them to help leverage their significant knowledge and experience demonstrates not only our appetite to extend Castel’s portfolio but also our ability to support a wide breadth of niche and speciality underwriting talent to deliver profitable business.”
Comerford has nearly two decades of experience in leading AIG and Lexington’s London market US PL team. Moore on the other hand was with Brit Insurance in their Lloyd’s US Pl team.
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By GlobalDataComerford added: “Castel provides us with a robust operating platform from which to build NAPL’s offering to brokers. The platform combined with the committed capacity and a world-class claims operation will enable us to maximise the opportunities we see from the changing and hardening US professional lines marketplace.”
Castel is part of Arch Insurance International and is regulated by the Financial Conduct Authority.