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CHICAGO—Ryan Specialty Group L.L.C. said Wednesday its Concord Specialty Risk unit has joined in trading relationships with insurers to offer a facility for merger and acquisition-related liability and tax insurance products.
The facility will offer a combined capacity of $55 million and the ability to access at least $20 million in additional capacity for larger risks.
Ryan said Concord has joined with Arch Specialty Insurance Co., a unit of Bermuda-based Arch Capital Group Ltd.; New York-based Freedom Specialty Insurance Co. and a unit of Zurich Financial Services Group Ltd. to offer the facility.
The facility will be administered by Concord in a “seamless process from underwriting to binding to claims management and resolution,” with Concord acting as the single point of contact between the facility markets and the insured, said Ryan in a statement.
Concord is headed by David De Berry and Kenneth De Berry.