Stonybrook Capital and Stonybrook Risk Management, a specialist strategic advisory and reinsurance intermediary, have successfully launched and launched a new excess hire and non-owned automobile (HNOA) insurance program.
The program is managed by PT Edwards as Managing General Agent (MGA) and is backed by strong reinsurance from Florida Insurance and Reinsurance Company (Florida Re), a subsidiary of MNK Group that specializes in domestic commercial real estate and international presumption reinsurance.
The partnership leverages PT Edward’s technical expertise and the financial strength of Florida Re, which was recently rated an “A-” (Excellent) carrier by AM Best.
“Florida Re is pleased to provide reinsurance capacity for this excess HNOA program,” said Alvaro Ortiz, president of Florida Insurance & Reinsurance. “The ‘A-‘ rating given to us by AM Best reflects our financial strength and strategic commitment to supporting high-quality, niche commercial projects.”
“Partnering with Stonybrook and Hartwell allows us to deploy capital into a well-managed program that prioritizes underwriting excellence.”
The policy for this critical liability solution will be issued under the name Hartwell Insurance, completing the structure of the newly launched scheme.
The partners emphasize that the program is built on rigorous underwriting and long-term sustainability.
Paul Dzielinski, Managing Director and Partner at Stonybrook Risk Management, commented: “We are pleased to have facilitated this collaboration between Hartwell, PT Edwards and Florida Re.
“This program addresses a significant need in the excess vehicle sector by combining a highly disciplined underwriting approach with a safe, stable capital structure. Our goal at Stonybrook is to build sustainable programs that deliver long-term value to all stakeholders, and this launch is a prime example of that mission.”
Nicolas Prezioso, President of PT Edwards, pointed to the professionalism of the program as its greatest strength.
“This new excess HNOA program allows us to bring our experienced team to the forefront to provide much-needed solutions for clients requiring complex excess liability coverage. Working with the professionals at Stonybrook, Hartwell and Florida Re ensures we deliver a product that is both reliable and innovative,” said Prezioso.
For Hartwell Insurance, this partnership represents a commitment to a high level of service. President Roland Horton expressed confidence in the program’s growth, citing the “expert guidance of the Stonybrook team” as a key factor in its future growth.
