Risksmith Insurance Services, a specialist managed general underwriter (MGU) specializing in insurance solutions for complex excess and surplus (E&S) risks, has launched a seismic program that provides flexibility, deep technical expertise and underwriting appetite for difficult property risks.
Risksmith’s new Difference in Condition (DIC) earthquake insurance program caters to risks that many markets typically avoid, including older construction, high liquefaction and hidden parking.
According to MGU, the new offering offers high limits of up to $25 million, large risk capacity with no TIV cap, and flexible structural options, including primary, quota share or over-allotment.
Risksmith’s DIC Earthquake Program enables brokers and insureds to develop coverage tailored to their needs, offering: Earthquake, Earth Movement and Seismic Sprinkler Leak Coverage, Carrier or Manuscript EQ definition flexibility.
This product is suitable for a variety of commercial property risks in major seismic areas such as California, the Pacific Northwest, New Madrid, and all other U.S. states.
Ravi Patel, executive vice president and head of property at Risksmith, commented: “The risks that require the most specialized understanding are the ones our team is best at.
“The program we created is flexible and allows our underwriters to develop solutions with real defined options, real capacity and no arbitrary TIV cap. It accurately reflects who we are: an underwriter-focused company that combines responsible risk taking with disciplined long-term value creation.”
