Independent specialty insurance provider Novacore has added Euclid Design Underwriters, LLC to its Professional Underwriters Agent (PUA) program.
Euclid Design Underwriters is a professional managing general agency specializing in errors and omissions (E&O) insurance for architects, engineers and design professionals.
The acquisition expands PUA’s capabilities in architects and engineers (A&E) professional liability.
Euclid Design’s team and capabilities will become part of PUA, enhancing its ability to provide customized solutions and expand market access for agents and insureds nationwide. The Euclid Design brand will be integrated into PUA to create a broader and more comprehensive offering for the design professional market.
The move reflects Novacore’s ongoing strategy to invest in specialty underwriting talent, expand high-performing programs and build expertise in targeted specialty insurance areas. Novacore now offers a broader range of professional liability solutions, backed by decades of underwriting experience and strong carrier partnerships.
MarshBerry served as exclusive financial advisor to Euclid Design Underwriters in this transaction.
Aaron Miller, CEO of Novacore, said: “Professional responsibility remains a core area of ​​Novacore’s strategic focus and the addition of Euclid Design further enhances our expertise in serving design professionals.
“The Euclid Design team has built a well-respected business with a strong underwriting culture and deep industry knowledge. This acquisition underscores our strategy of investing in proven specialty projects, deepening expertise in our existing portfolio and creating sustainable profitable growth opportunities.”
Nick Colis, chief program officer at Euclid Program Managers, added: “Euclid Design accurately represents a specialized, high-level underwriting practice that defines excellence in the professional liability field. Chris and David have built something truly lasting: a respected brand, a loyal broker network and a team that sets the standard for A&E expertise. We are extremely confident that Novacore is the right home to continue this legacy.”
