Pivix and Everspan Unveil New E&S Casualty Insurance Program
Pivix Specialty Insurance Services Inc., an excess and surplus (E&S) managing general agent (MGA), has introduced a new casualty insurance program in partnership with Everspan Group, a specialty property and casualty insurance platform rated A- by AM Best. This program provides primary general liability coverage specifically designed for targeted business sectors such as contractors, real estate, hospitality, and manufacturing. The initiative marks the first product offering from Pivix's newly established brokerage division, which distributes exclusively through wholesale brokers.
The casualty program is structured on an E&S basis, reflecting the growing demand within the wholesale insurance market for specialized E&S products. By leveraging Everspan's expertise in casualty lines, Pivix aims to deliver efficient underwriting solutions tailored to the unique risks of its target sectors. The collaboration allows for a swift launch, tapping into Pivix's service-oriented approach combined with Everspan’s strong underwriting capabilities.
Pivix, launched in the previous fall, initially focused on contract binding programs for small commercial businesses offering property and general liability coverage. The new brokerage unit intends to expand its reach by targeting brokered E&S business, utilizing the same core technology platform to ensure operational efficiency and speed.
Industry observers note that this development highlights an ongoing trend in the insurance space where MGAs are enhancing their product portfolios to meet complex liability exposures with innovative program structures. The use of robust platforms and strategic carrier partnerships like the one between Pivix and Everspan is demonstrating a pathway to address specific market gaps in casualty coverage.
Both Pivix and Everspan are subsidiaries of Ambac Financial Group, which underscores the strategic alignment within the holding company to capitalize on E&S market opportunities. This move also reflects broader market dynamics where wholesalers and MGAs are increasingly pivotal in distributing specialized casualty insurance products through wholesale brokers.
The launch of this casualty program is anticipated to strengthen Pivix's position in the specialty insurance market and provide wholesale brokers with enhanced product options for clients operating in diverse industries with unique liability risks. It further exemplifies the growing role of technology-driven underwriting and service models in the excess and surplus lines segment.