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Palisade enters the market for specialty law risks, the president states



Palisade Insurance Partners LLC said on Thursday that it is entering the specialty market for legal risks and appointed industry veteran John McNally as president.

Based in New York, the Executive Insurer will write conditional legal and transactional liability cover, including representations and guarantees and tax insurance.

Palisade aims to offer coverage in the second half of this year as it looks to meet the growing demand for specialized insurance capacity from corporate clients, law firms, asset management funds, specialist finance companies and litigation finance companies.

Mr. McNally most recently led NFP Corp.’s Group for Merger and Acquisition Risk Solutions focused on transactional insurance and previously held various leading roles, including leading the transactional insurance business at JLT Specialty USA.

“The global litigation market is estimated at nearly $ 1

2 billion a year, with significant year-over-year growth, while the global legal services industry is expected to exceed $ 1 trillion in fee revenue by 2022,” McNally said in a press release. . statement.


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