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DUAL Commercial partners with Aspen Insurance to enhance Management Liability Program
DUAL Commercial (“DUAL”), a subsidiary of the Hyperion Insurance Group Limited, is pleased to announce that it has partnered with Aspen American Insurance Company (“Aspen Insurance”), part of Aspen Insurance Holdings Limited, in order to enhance its current suite of products. DUAL will now be able to provide a broader Management Liability product offering extending to both private and not-for-profit entities.
Aspen Insurance’s products include Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Employed Lawyers Liability, Crime Coverage, and Kidnap and Ransom coverage all under one policy form. DUAL’s focus on targeting the SME market space remains the same as well as its risk appetite, thresholds and level of commitment to all partners.
“We are very pleased with our new relationship with Aspen Insurance in support of our Management Liability business and the Aspen Insurance products we can now offer to our clients. We share common values in underwriting, service, comprehensive coverage and claims. We look forward to a long and successful relationship with Aspen Insurance” said Phil Hoyt, Director, DUAL North America.
Ray Hannan, Senior Vice President and U.S. Underwriting Manager for Management Liability, Aspen Insurance, commented: “We believe that the combination of Aspen Insurance’s product offering and DUAL’s scale and outstanding customer service will be enthusiastically received by the brokerage community.”
In addition to the partnership with Aspen Insurance, DUAL has developed a new state of the art underwriting system which will increase efficiency in order to continue to meet broker expectations. DUAL will also invest in additional underwriting talent and looks forward to increasing market reach and continued success.
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About DUAL COMMERCIAL LLC
DUAL Commercial LLC is a leading Specialty Program Administrator offering property and casualty products through several specialized subsidiary companies. DUAL Commercial currently has 12 underwriting offices throughout North America that underwrite and manage unique insurance programs utilizing advanced technology and simplified distribution methods. DUAL Commercial is a part of the DUAL Group, which is the world’s largest international underwriting agency and Lloyd’s largest international coverholder with offices in 17 countries.
About Aspen Insurance Holdings Limited
Aspen Insurance Holdings Limited (“Aspen”) provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, France, Germany, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. For the year ended December 31, 2015, Aspen reported $11.0 billion in total assets, $4.9 billion in gross reserves, $3.4 billion in total shareholders’ equity and $3.0 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of “A” by Standard & Poor’s Financial Services LLC, an “A” (“Excellent”) by A.M. Best Company Inc. and an “A2” by Moody’s Investors Service, Inc.