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Ryan Specialty unit launches property coverage program

Posted On: May. 1, 2015 12:00 AM CST

New York-based WKFC Underwriting Managers, part of Ryan Specialty Group L.L.C., has launched a nationwide property insurance program with wind coverage.

The property program, which offers limits of up to $50 million and a minimum premium of $5,000, includes property damage and business interruption coverage for habitational and commercial properties, WKFC's president and CEO Michael Sillat said Friday.

The insurance program covers risks up to $500 million in total insured value, according to a WKFC statement.

Wind coverage, available for Tier 1 and Tier 2 counties, is also included in the program, according to the statement. Tier 1 addresses counties bordering the coast, while Tier 2 addresses counties a step beyond those closest to the coast, Mr. Sillat said.

“The fact that WKFC can now offer an extensive lineup of property products for risks and coverages that it historically had not been able to address demonstrates the continued expansion of WKFC's underwriting capabilities,” Mr. Sillat said in the statement.