Novatae Risk Group, a managing general agent, underwriting manager, and wholesale insurance distributor, has launched a new miscellaneous professional liability program aimed at providing faster quoting for brokers and enhanced claims support for insureds.
Underwritten in-house, the program targets professionals with revenues up to $5 million, offering coverage options across all 50 states and spanning over 800 classes with various deductible choices.
Daniel Ginden (pictured above), managing director of program development at Novatae, stated that the program addresses a specific market need for tailored solutions suited to the unique risks of consultants, service providers, and professionals.
"Our new program offers real advantages due to the nature of their business such as broad definition, DOL, extended reporting options and many more. Plus, premiums start at $350 and there are many coverages already included,” Ginden said.
Quoting and binding services under the program began on Nov. 1.
Recently, Novatae also appointed John Catrabone as vice president of carrier relations. In his new role, Catrabone will oversee carrier relationships and work to establish new strategic alliances, supporting Novatae’s expansion of product solutions.
Catrabone joins Novatae with over 30 years of experience across various insurance sectors, including US surplus lines, global carriers, and brokerage firms. His background includes working with Fortune 500 clients in complex global risk management, both from the broker and carrier perspectives.
Earlier this year, Novatae also announced its acquisition of London-based Bretton Woods International (BWI) for an undisclosed sum.
Founded by former Ark Syndicate Management class underwriter and Miller Insurance Services broker Dan Goggin in 2015, BWI specializes in complex contingency, accident and health, cyber, professional liability, management risk, and general liability with a focus on open market and program placements.
Novatae provides specialty insurance products for a variety of complex and hard-to-place risks, including property, casualty, workers' compensation, cyber, professional, management, construction, environmental, garage, marine, and contingency coverage. The firm supports more than 6,000 clients through 27 offices nationwide.
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