Applied Underwriters Inc. said on Thursday that it has launched a new surplus and surplus accident company, Applied Specialty Underwriters LLC, which will initially focus on large constructions in New York.
Omaha, Nebraska-based Applied Underwriters said Christopher Day, whose most recent position was chairman of the Tokyo Marine HCC's claims department, will lead a group of 11 insurers.
The new company will initially focus on general responsibility, surplus and compensation to workers for New York construction, the statement said. It now appoints wholesalers who will work with independent agents and brokers.
Mr. Day said in the statement that Applied Specialty has already begun accepting submissions for New York's multiline design approach, renewal of general contractor policies and placements of surplus liability.
Applied Specialty will offer limits of $ 2 million to $ 5 million per event, according to a spokeswoman.
Berkshire Hathaway Inc. announced in December that it had sold Applied Underwriters Inc. to the insurer's founder and president Steve Menzies and a venture capital firm in a $ 920 million transaction.
There were subsequent disputes between Applied Underwriters and the State of California over whether the insurer allegedly attempted to relocate its subsidiary, California Insurance Co., to New Mexico without state approval.