Introducing Bowhead Specialty
Founders Professional is very proud to be one of the selected brokerages across the Country that is now able to access the Lawyers and Miscellaneous Professional liability products of Bowhead Specialty Underwriters, Inc.
Bowhead Specialty Underwriters, Inc. Professional Liability Product Offerings
Lawyers Professional Liability
Written on a claims-made basis for attorneys incurring economic damages resulting from errors or omissions in providing professional legal services. Bowhead Specialty Underwriters, Inc. will look to provide coverage for middle market law firms (standard and non-standard) up to 50 attorneys on both a primary, excess, and quota share basis. Coverage currently available on an excess follow form basis* in all 50 states with up to $10M of capacity.
- Willing to consider wide variety of AOP’s, including but not limited to Plaintiff, Class Action, Corporate Litigation, Insurance Defense, Employment, Real Estate, etc.
- Ability to consider top heavy excess positions
- 1-50 Attorneys
- Minimum attachment of $1M
- Ability to provide lead or supporting excess quota share options
- Minimum premium of $3K per million dollars of limit
- Willing to recognize prior acts on new layers
Miscellaneous Professional Liability
The MPL product offering provides liability coverage on claims made basis for economic damages resulting from negligence in the performance of or failure to perform a professional service. Target classes of business will be non-licensed professional service firms providing services for others (i.e. property managers, consultants, TPAs).
- Target classes include Miscellaneous Consultants, Property Managers, Developers, Trustees, Franchisors, Third Party Administrators, Claims Adjusters, Collection Agents, and many more!
- $10M of primary or excess capacity available (including quota share)
- Revenue thresholds – $500K to $1B
Primary Coverage Highlights
- No Hammer Clause
- Contingent Bodily Injury and Property Damage coverage
- Disciplinary Proceedings Coverage
- Subpoena Request Costs
- Expense Reimbursement
- Crisis Management
- Duty to Defend
- Personal Injury Coverage
- Discrimination Coverage
- 100% Defense Allocation
- Coverage for Independent Contractors
- No exclusion for punitive damages
About Bowhead Specialty Underwriters, Inc.
- Bowhead Specialty is a best-in-class insurance operation targeting US specialty lines with highly experienced leadership and backed by respected capital partners.
- Bowhead Specialty’s capital partners include Gallatin Point Capital and American Family Mutual Insurance Company, S.I.
- Gallatin Point is a financial service oriented private investment firm whose principals served in leadership positions at institutions such as the U.S. Department of the Treasury, Highfields Capital, Blackstone, and Alliance Partners.
- American Family is the 13th largest P&C insurer in the United States by written premiums.
- Bowhead Specialty anticipates providing risk evaluation and related services for professional liability coverages including Directors & Officers, Management Liability and Errors & Omissions.
Bowhead Specialty Claims
- Bowhead Specialty has an internal claims department consisting of experienced claim professionals. Built with a preference in hiring for former practicing attorneys.
- Customer service will be the central focus of the organization.
- Customers will have an internal point of contact, and Bowhead Specialty’s use of outside counsel will be for specific matters and always at the direction of the internal claims professional.
Why Bowhead Specialty?
- Service First! Bowhead will let you know their position early on
- First class team: Experienced, knowledgeable, credible, engaging
- Long-standing excellent reputations in the marketplace for relationship strength and consistency
- Solution seekers: demonstrated willingness to get creative about risk
- Able to consider meaningful program layers from the onset
*Products and coverages may differ by state and may be offered on one or more American Family Mutual Insurance Company, S.I., affiliates on an admitted and non-admitted basis. Please see their financial strength here: Financial Strength | American Family Insurance (amfam.com) . Bowhead Specialty Underwriters, Inc. is doing business as Bowhead Specialty Insurance Services in CA, IL, MO, NV, NY, UT, and VA. National Producer Number is 19853093.
Ask your Founders Professional broker for information about this exciting new market.