Cooper Gay Swett & Crawford Ltd. has launched Pro-Praxis Insurance, an underwriting management agency specializing in the health care industry.
Pro-Praxis will be based in New York and led by Bob Allen who has over 25 years of experience in the industry, the London-based broker said in a statement Tuesday. Mr. Allen was previously a senior vice president at Torus Insurance Holdings Ltd.
The managing general agency will bring U.S. domestic business to the London market, and the company will build a suite of proprietary insurance products in conjunction with Lloyd’s of London and U.S. market underwriters, according to the statement.
Pro-Praxis has also launched a health care and clinical research underwriting facility that will offer primary professional liability, general liability and standalone umbrella coverage for a variety of classes including air ambulances and zoonotic disease centers, the broker said.
The team will offer primary professional liability, general liability and stand-alone umbrella coverage for classes such as trial sponsors, contract research organizations, independent research sites and institutional review boards for clinical research liability. All eligible classes have a capacity of up to $10 million per claim, according to the statement.