Mutual Marine Office, a subsidiary of Nymagic, an insurance holding company, has acquired a book of professional liability insurance covering insurance agents, brokers and related professionals from Excel Underwriters Alliance.
Excel Underwriters was formed by David Wash, who has been producing profitable business on behalf of Mutual Marine Office (MMO) for more than six years.
In connection with acquiring the Excel book of insurance business, MMO has entered into an agreement with Excel’s affiliate, Spirit Underwriters under which Spirit will act as MMO’s agent to further develop this line of insurance.
This segment of professional liability business will be marketed using the servicemark BrokerPro. Working in conjunction with Spirit, MMO plans to maintain an informational web site and to provide a free legal-assistance hotline for its policy holders.