Kova Professions, a newly established managing general agent (MGA), has announced its launch.
The new MGA will focus on underwriting for the professional indemnity (PI) segment, under the leadership of CEO Kate Albert (pictured above), who brings over two decades of PI expertise to the table.
Kova also aims to cater specifically to the needs of mid-market SMEs across various sectors within the UK.
The company said that it plans to work closely with brokers, positioning them as essential partners, while relying on a rigorous underwriting process.
Kova also explained that it distinguishes itself by offering innovative insurance solutions, custom risk assessments, and prompt claims handling, all within a client-focused framework.
“The motivation for founding Kova stemmed from a desire to enhance the service provided to brokers. The industry has expressed growing dissatisfaction with negative outcomes and a reluctance to engage actively in the PI market. Our compact and proficient team aims to tackle these issues by making decisions swiftly and effortlessly,” Albert said.
Albert added that it will be aiming to streamline the process of acquiring PI insurance to eliminate any existing frustrations from the initial engagement through to completion. With a secure five-year, A- rated capacity agreement, Kova intends to provide the market stability and confidence that is currently in short supply.
“Kova provides a no-fuss approach – our professional indemnity product is designed for simplicity and ease and is expertly tailored to buyers’ needs. We are compliance-driven and committed to doing the right thing, especially when it comes to paying valid claims promptly. While our current focus is on mid-sized companies, we will move up to larger businesses as we grow and expand into international markets,” Albert said.
Kova Professions is set to commence operations with backing from Mission Underwriters, supported by a long-term capacity deal with a consortium of AM Best A- rated capacity providers.
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