New product backed by A-rated capacity
Arthur J Gallagher’s MGA business Pen Underwriting has launched a commercial combined product aimed at the mid-market.
The move is the latest step in Gallagher’s plan to grow Pen Underwriting after a series of senior hires from Towergate-owned rival Fusion last year.
The new offering will be distributed through a panel of brokers. As well as insurance cover, it will include a range of risk management products, access to a team of risk control surveyors, embedded cover extensions and access to expert underwriting and claims staff.
The insurance element of the product is backed by A-rated capacity, Gallagher said.
Underwriting director for Pen’s commercial division Stewart Gardiner said: “Practical and cost-effective risk management solutions are the cornerstone of our approach; our in-house surveyors are tasked with mitigating client risk first and foremost, cutting unnecessary business costs and exposure by working with our brokers to build tailored propositions.
“By embedding additional layers of built-in protection, such as legal expenses and cyber liability, we also offer superior cover as standard.
“And with underwriters based in regional offices empowered to make decisions alongside experienced claims handlers with authority to manage and settle claims, we believe our commercial combined solution offers a genuine valued partnership approach.”
Pen managing director Mark Armitage added: “We want to work with brokers that share our belief in offering clients more than traditional risk transfer, and are looking for a consultative relationship with people that take pride in providing exceptional service.
“In the competitive world of commercial combined, we want to be the ‘go to’ market of choice, offering a clear underwriting philosophy focused on mitigating and managing risk, as well as technical expertise at every level from risk control surveyors, to underwriters to claims technicians.”
Pen Underwriting’s commercial division is headed by Nick Wright, who was previously managing director of Towergate’s Fusion underwriting division.
Underwriting director Gardiner was previously Fusion’s underwriting director. Pen’s Leeds and Bristol branches are run by former Fusion regional office heads Rob Chapman and Nick Milton respectively.