Charles Taylor Insurance Services has been appointed by cyber-MGA Node International to deliver an end-to-end operations and administration management service. Under the arrangement, Node International will benefit from Charles Taylor’s broker incubator service.
Node International CEO Neil Gurnhill said the market for cyber insurance is growing “exponentially,” but there exists a “gap” in expertise in the market.
“Brokers need access to better quality insurance products and support services, delivered by underwriters who know the market inside out,” he said.
Charles Taylor’s incubator services include underwriting support, compliance and regulatory support, premiums and claims processing, market relationship management and technical infrastructure.
Gurnhill said his firm appointed Charles Taylor because of the latter’s track record in delivering support services to insurance clients across the world.
“Their MGA incubator service enabled us to get Node International up and running quickly and their knowledge and insight was crucial in taking us through Lloyd’s coverholder application process,” he noted.
Node International is a specialist MGA focusing on cyber, tech and e-gaming insurance. It has coverholder status from Lloyd’s and provides cyber and tech underwriting services to US Retail Agencies.
“The insurance industry is changing and we expect to see more new entrants to the sector. Through our incubator service we can help entrepreneurial underwriters and brokers to successfully navigate through the regulatory, technical and operational challenges that a new business faces,” said Gary Bullock, director, Charles Taylor.
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