Ryan Specialty Group’s (RSG) subsidiary Concord Specialty Risk has signed a trading agreement with Arch Specialty Insurance Company, Freedom Specialty Insurance Company and Zurich Insurance Company’s US subsidiary.
The new facility allows Concord to underwrite various transactional liability insurance products with a combined $55m capacity and an additional access of at least $20m capacity for larger risks.
The stand-alone tax insurance products designed by Concorde will facilitate transactions by enhancing bids, expediting and easing closings, syndications and offerings and also balance sheet protection provision.
The combined insurer’s facility will provide the market with a flexible, responsive and satisfying suite of products and services geared for current uncertain economic and regulatory climate, RSG said.
Concord will act as the single point of contact between the facility markets and the Insured.