Applied launches E&S casualty underwriter
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Applied Underwriters Inc. said Thursday it has launched a new excess and surplus casualty company, Applied Specialty Underwriters LLC, that will initially focus on large construction in New York.
Omaha, Nebraska-based Applied Underwriters said Christopher Day, whose most recent position was president of Tokio Marine HCC’s casualty department, will head a group of 11 underwriters.
The new company will initially focus on general liability, excess liability and workers compensation for New York construction, the statement said. It is now appointing wholesalers who will work with independent agents and brokers.
Mr. Day said in the statement that Applied Specialty has already begun to accept submissions for New York multiline construction wrap-ups, renewal general contractor policies and construction excess liability placements.
Applied Specialty will offer limits of $2 million to $5 million per occurrence, according to a spokeswoman.
Berkshire Hathaway Inc. announced in December that it had sold Applied Underwriters Inc. to the insurer’s founder and president Steve Menzies and a private equity investment firm in a transaction valued at $920 million.
There was subsequent litigation between Applied Underwriters and the state of California over the issue of whether the insurer had allegedly tried to move its subsidiary, California Insurance Co., to New Mexico without the state’s approval.
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