West Coast earthquake insurance underwriter broadens its coverage solution for brokers nationwide
EQ One, one of the West Coast’s premier earthquake insurance underwriters, has added additional capacity to its earthquake solutions through a new relationship with Munich Re Specialty Insurance, a market leader. This will enable the EQ One team to write larger earthquake risks and serve as a single-source solution for broker partners nationwide despite a hardening market.
"Our new relationship with Munich Re Specialty Insurance reaffirms our commitment to providing brokers with an earthquake solution that is truly best in class while solidifying our long-term strategy to grow and expand our offerings," said Kelley Bernal, Senior Vice President and Director of EQ One. "This will enable us to offer increased capacity with a solution written on outstanding paper."
EQ One is one of the West Coast’s most established difference in conditions (DIC) underwriters providing earthquake and flood insurance combined with a broad range of commercial and habitational solutions. With more than two decades in the business, EQ One services a national base of wholesale insurance brokers and has longstanding relationships with top carriers in the market.
"Working with EQ One offers Munich Re Specialty Insurance an opportunity to further expand our DIC business with a firm that has a strong industry reputation in the earthquake market," said Kevin Johnson, President, Insurance Programs with Munich Re Specialty Insurance. "EQ One understands how to meet the needs of brokers from a wide range of disciplines and offers outstanding distribution, making this relationship highly advantageous for both organizations."
The EQ One DIC product is underwritten by The Princeton Excess and Surplus Lines Insurance Company. Surplus lines insurance can only be placed or accepted through a licensed surplus lines broker/producer.
This enhanced coverage solution is part of an expanded endeavor between Munich Re Specialty Insurance and EQ One’s parent company, Alliant Underwriting Solutions (AUS). Part of Alliant Insurance Services, AUS is a national program administrator with a growing portfolio of underwriting platforms generating more than $1.5 billion in annual gross written premium.
About Alliant Insurance Services
Headquartered in Newport Beach, CA, Alliant Insurance Services, Inc. provides property and casualty, workers’ compensation, employee benefits, underwriting, surety, and financial products and services to clients nationwide, including public entities, tribal nations, healthcare, energy and marine, law firms, real estate, construction, financial institutions, agriculture, aviation, and environmental. More information is available on the company’s website at alliant.com.
About Munich Re Specialty Insurance
Munich Re Specialty Insurance is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. Since December 2018, the Munich Re Specialty Insurance operations have brought together the existing expertise of certain of Munich Re Group’s commercial specialty insurance divisions under one umbrella to gain efficiency, leverage technology and develop future-focused solutions. Munich Re Specialty Insurance offers its clients innovative risk and claims solutions powered by advanced technology and analytics, superior service and enhanced responsiveness to clients’ needs, and simplified access to the full breadth of Munich Re Group’s solutions through a dedicated Broker Relationship Leader.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201020005012/en/
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