By Chris Munro
Feb 3 - (The Insurer) - RiskPoint Group’s RP Underwriting has added Ascot capacity to the panel of US carrier partners supporting its transactional risk program.
The partnership means that from 1 January 2025, AM Best A rated Ascot Insurance Company and Ascot Specialty Insurance Company capacity has been supporting RP Underwriting’s North American representations and warranties coverage, along with its tax liability product.
The addition of Ascot further strengthens RP Underwriting’s panel of capacity providers, a group that includes Arch Specialty Insurance Company, Allianz Global Risk, Allied World Assurance Company (US) Inc and HDI Global Specialty SE.
“After a highly successful and transformational 2024 for our North American business, we could not be more thrilled to kick off the new year welcoming Ascot to our US panel for transactional risk,” said Michael McGowan, managing director and head of transactional risk, Americas.
“This new partnership enhances our ability to address the unique needs of our clients and reaffirms the RiskPoint Group’s global leadership in transactional liability solutions,” McGowan added.
In a statement, RP Underwriting touted its transactional risk team’s credentials, describing it as one of the largest operating in the specialist segment with almost 50 underwriters working across the Americas, Asia Pacific and Europe, Middle East and Africa.
That underwriting team is supported by what RiskPoint described as “one of the largest dedicated global claims teams operating across several jurisdictions”.
RiskPoint is one of the largest MGUs in Europe. It operates as RiskPoint in Europe and Asia and RP Underwriting in the rest of the world.
It offers products within the accident and health, transactional risk, property and construction, renewable energy and offshore upstream segments, along with financial lines, cyber and casualty.
The company was founded as Hansen & Klein in 1917. It rebranded to RiskPoint in 2007, and the business now has more than 250 staff spread across 16 locations in Europe, North America and Asia Pacific.
RiskPoint is a Lloyd’s coverholder and has been granted underwriting authority by more than 25 insurers.