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Core Specialty, insurtech partner to provide D&O insurance



Core Specialty Insurance Holdings Inc. said on Thursday that it has signed a subscription agreement with Celerity Pro, an insurtech professional liability and cyber risk underwriter supported by a Munich reinsurance unit, to provide board members and officers with liability insurance for US management liability [19659002] Cincinnati-based Core Specialty said in a statement that the program will be available to the wholesale market in the Northeast and Central Atlantic regions on an unauthorized basis. According to a spokesman, it offers limits of up to $ 5 million per incident, with a total of $ 15 million.

Celerity Pro will offer public and private companies D&O and related lines on a primary and surplus base, Carl Pursiano, New York-based president and founder of Celerity Pro, said in the statement.

Celerity Pro was officially launched in December, with cyber responsibility and various professional responsibility products designed for small to medium-sized businesses.

New capital has recently entered the tough D&O market.

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