Former Dual team launches transactional risk MGA

A team of transactional risk underwriters who left Dual North America Inc. last year launched a private-equity-backed managing general agent.

Sands Point Risk, backed by Stamford, Connecticut-based Avesi Partners LLC, will offer representation and warranties, tax liability and contingent liability coverage, and other lines, the company said Tuesday in a statement.

Dennis Kearns, previously president of Dual Transaction Solutions, is CEO of Sands Point. Patrick Darragh and Dan Simnowitz, also previously at Dual, are executive vice presidents. JoAnna Conte, previously a senior vice president at QBE North America, is chief operating officer.

Dual sued its three former executives and Avesi in October alleging breach of nonsolicitation agreements. The suit was settled in December, court records show.