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Shepherd Labs Inc., an insurtech focused on the construction market, has secured capacity from Core Specialty Insurance Holdings Inc. to launch an excess liability coverage for middle-market contractors.
Shepherd will deploy capacity up to a maximum limit of $10 million, and most of its policies will attach within the first $25 million of overall coverage, Justin Levine, co-founder and CEO of the managing general underwriter, said in a website posting Monday.
“Our appetite is broad and includes most construction classes as well as geographies within the U.S.,” Mr. Levine wrote.
Shepherd’s policies are backed by Core’s StarStone Specialty Insurance Co. paper and is supported by a panel of reinsurers including Greenlight Capital Re Ltd., based in the Cayman Islands.
Rebranded Core Specialty emerged from the recapitalization of StarStone U.S. Holdings Inc. in November 2020.