US insurer’s Europe division supports Yutree’s liability facility
Yutree Underwriting has signed a liability capacity deal with the European division of US insurer WR Berkley.
As result of the deal, Yutree Underwriting will provide a liability facility with limits of up to £10m for public and products liability, as well as £10m employers’ liability limits.
The facility caters for a range of trades including retailing, manufacturing, wholesaling, leisure, sport, media and entertainment.
Yutree Underwriting is a division of commercial broker Yutree, which was set up last year.
Yutree said taking on the new facility with WR Berkley (Europe) is part of the growth strategy for its underwriting agency.
Managing director Kevin Hancock said: “This is a step forward, not just for our underwriting arm but across the business.
“We’re always looking for ways to improve our offering and this binder will allow us to respond to our brokers with commercial terms and within market-leading turnaround times.”
He added: “We’re open to expanding our broker base, offering exclusivity in geographical areas and our widened product offering gives those we haven’t dealt with before a real reason to work with us.”