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RSA Insurance and specialist managing general agent (MGA) Q Underwriting have partnered to launch a new Management Liability product, aimed at private limited companies and limited liability partnerships.
Management Liability insurance protects directors, officers and the company from exposures that may come as a result of the actions and decisions they have made on behalf of their company or organisation.
Steve Hedge, Delegated Director at RSA Insurance stated: “We are delighted to announce the launch of, not only a new product, but also the start of a new mutually beneficial partnership with Q Underwriting and PIB Group.
“We have an ambitious customer service agenda and developing and nurturing long standing partnerships will help us achieve our objectives in this area. We’ve really enjoyed working with Q to launch a high-quality product that offers a breadth of cover that brokers have confidence in and meets customers’ needs.”
Described as a market-leading solution, the product’s bespoke limits and enhanced cover offers management protection, covering D&O, corporate liability, employment practice liability and employee crime.
RSA’s new Management Liability insurance will be available to PIB Group brokers, a growing group of insurance advisory businesses, as well as to Cobra Network members, through Q Underwriting via an RSA delegated authority arrangement.
The product has been designed su benefit customers such as care establishments, educational institutions, leisure and hospitality, haulage, transport and motor trades.
According to the announcement, Q Underwriting is also looking to eventually launch a wholesale version of the product for its extensive, nationwide network of partner brokers.
Mike Hudson, Managing Director at Q Underwriting said: “We’re really pleased to bring this new management liability product to market for our PIB and Cobra Network brokers, and to start developing a product, together with RSA, for external broker partners. The bespoke product allows us to provide enhanced cover and limits, on a cost-effective basis, to both existing and new customers.
“We went through a thorough and robust tender process and have been really impressed and pleased with the collaborative approach between ourselves and RSA. Onboarding, developing, and launching a new product can be challenging with new partners, but RSA have handled this seamlessly and have understood what we wanted to achieve.”
He concluded: “We now have a high-quality tailored product, competitively priced, whilst providing wide cover thereby giving our customers the good outcomes we seek, and they expect us to deliver.”
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