Munich Re-backed professional liability, cyber underwriter launches

Celerity Pro, an insurtech professional lability and cyber risk underwriter backed by a Munich Reinsurance Co. unit, has officially launched, with cyber liability and miscellaneous professional liability products that are designed for small to midsized businesses, the New York-based firm said Tuesday.

The standalone cyber liability product includes a loss prevention solution that is designed to measure, monitor and help businesses deal with exposure and risk, according to the statement issued by Celerity Pro, which is backed by Munch Re Specialty Insurance.

The miscellaneous professional liability product, which caters to a broad spectrum of industry classes, provides insurance protection against escalating legal fees and indemnity payments, according to the statement.

Celerity Pro can offer up to $5 million in limits on both products, according to a spokeswoman.

Celerity Pro was founded by President Carl Pursiano, while Simon White is its director of professional liability and cyber.

Mr. Pursiano was previously executive vice president, U.S. specialty casualty division, for Liberty Mutual Group unit Liberty International Underwriters, according to his LinkedIn profile.

Mr. White was most recently senior vice president and group head of cyber for the Argo Group, according to his LinkedIn profile.