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Nautilus expands commercial excess capacity to $10 million

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Nautilus Insurance Group, part of W. R. Berkley Corp., has increased its commercial excess insurance capacity to $10 million, up from $5 million, the Scottsdale, Arizona-based property/casualty insurer announced Friday.

Minimum premiums for the policy begin at $500 per excess layer, a spokesman for Nautilus said.

In a statement, Nautilus, which is comprised of Nautilus Insurance Co. and Great Divide Insurance Co., said improvements to the policy give its agents additional underwriting authority over hundreds of new classes of business, as well as the ability to write excess over other carriers.

According to the spokesman, Nautilus’ agents can offer excess insurance on 600 classes, of which 200 are in the agents’ authority.

“Commercial excess is already a growing line of business for us,” Elissa Kelly, Nautilus assistant vice president of commercial casualty, said in the statement. “Through these product enhancements, our agents now have the ability to write excess coverage over more classes, with higher limits, providing them more freedom and flexibility than ever before.”

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