“Until now, group captives were only available to transportation companies and other insureds within the primary layers,” said Dr. Parag Bavishi, Chief Underwriting Officer for USQRisk. “Mid-sized fleet businesses will now have a new ability to share in upsides for improved loss experience and a higher degree of budget certainty for excess auto liability exposure. Through alternative arrangements like these, we are bringing something truly unique to the market, and we look forward to emulating solutions like this in the future.”
This new facility is designed to address the limited group captive solutions for excess layers and assist mid-sized fleet owners who are struggling with the recent extreme market volatility. USQRisk’s underwriting and structuring teams will be providing expertise and support to the arrangement, with Keystone Risk Partners focusing on captive management and distribution.
“Earlier this year, we announced the launch of AXSAL Re as an innovative solution for transportation business and fleet companies, and this model has proven to be a success since then,” said Andy Lewis, CEO of Keystone Risk Partners. “It’s exciting to take this first-in-the-industry model and bring it to a unique offering for businesses with mid-sized fleets.”
For more information about this facility, please visit https://www.usqrisk.com/.
About USQRisk
USQRisk focuses on customized risk management solutions to help clients manage volatility and overcome the shortcomings of traditional risk transfer solutions. Leveraging the company’s combined 250+ years of underwriting and risk management expertise in senior roles at major insurers and brokers like Allianz, Zurich, Chubb, Aon and Marsh, USQRisk provides nimble solutions to meet the needs of real-world problems. For more information visit https://www.usqrisk.com/.
About Keystone Risk Partners
As a leader in alternative risk placements, Keystone Risk Partners executes its strategy by working with brokers to provide a supplement to traditional insurance capacity, both in the admitted and E&S markets, or to provide an insurance solution when more conventional capacity is not available to address the needs of the insured at a price the insured will accept. Keystone Risk Partners is a part of Ryan Alternative Risk, a series of RSG Specialty, LLC, a Delaware limited liability company based in Illinois. RSG Specialty, LLC, is a subsidiary of Ryan Specialty, LLC. Ryan Alternative Risk works directly with brokers, agents and insurance carriers, and as such does not solicit insurance from the public. Some products may only be available in certain states, and some products may only be available from surplus lines insurers. In California: RSG Specialty Insurance Services, LLC (License #0G97516). keystonerisk.com
About AXSAL Re
AXSAL Re, distributed by an alternative risk managing general underwriter, provides buffer layer auto liability excess capacity through a group captive structure for commercial transportation and large fleet companies. AXSAL Re is supported by an A+ XV carrier and functions as a typical excess auto liability policy facilitating the continued development of a traditional excess tower for all insureds.AXSAL Re LLC is a group captive insurance company incorporated in the state of Tennessee.