Euclid Security Programs LLC is a boutique managing general underwriter specializing in Security Industry risks.

Euclid Security is owned and operated by a seasoned team of underwriters who are dedicated to providing best-in-class service and expedited deal execution.

Ed LaFramboise is a senior underwriting, risk management, operations, and finance executive with expertise in corporate and business unit leadership. Ed has over 20 years of experience in the property and casualty insurance industry with a focus on specialty and E&S business.

Larissa Gallagher has 15 years’ experience in the insurance industry, split between property brokerage and casualty underwriting.

Launched in 2022, Euclid Security Programs LLC is proudly, jointly owned by Ed LaFramboise, Larissa Gallagher, and Euclid.

Co-founders of Euclid Financial, Dave McDonald and Jim Thomas, are experienced underwriters in the highly technical and risky financial institution management liability business. Having successfully built a FI book for a leading insurance company, and having lived through various corporate mergers and realignments, Dave and Jim were anxious to establish and control their own underwriting company. The opportunity to partner with Euclid came at an ideal time and in June of 2015 they launched Euclid FI. Through Euclid’s previous relationship with Lloyds syndicate, Ren Re, Euclid FI became a cover holder for Lloyds and are now building a profitable book of financial institution business.
“Partnering with Euclid allowed us to find and contract with a top carrier in a fraction of the time it would have otherwise taken. We couldn’t be happier with the platform they provided us, not to mention the emotional and financial support”. ~ Dave McDonald  

Jim Seymour and Paul Bunone met as new employees of an insurance company who had tasked them with building a management liability business from scratch. Literally within hours of their meeting, they realized they shared a similar vision for their mission. During the next few years, they succeeded in their task but always knew that they wanted to control their destiny by being owners in their own business. In 2011, they founded Euclid Exec and began the difficult task of finding an insurance company to represent. Both partners remember that period as a challenging one but through their perseverance and Euclid’s steadfast backing, they ultimately prevailed, obtaining AmTrust Insurance Company and Lloyds of London paper for their two programs. Since that time, they have built an extremely profitable program administrator, realizing their dream of both being a best in class underwriter as well as a business owner.

“Euclid’s partnership was critical during our journey. Their support in our early days never wavered. The strategic guidance and support services they continue to provide are of the highest quality. We feel like we are living the dream.” ~ Jim Seymour

2020 Update – The successful company that Jim and Paul built was sold to its carrier partner, completing a nine year journey. Forming their own MGA was the most efficient and enjoyable way to monetize their considerable underwriting talents. Both partners look back on this period as one of the best experiences in their professional life.

Jay Rittberg was a successful mergers and acquisitions attorney when he joined a major national carrier to work in, and ultimately run, their transactional insurance business. A new and dynamic form of insurance, Jay and his team helped establish and make accepted insurance covering buyers and sellers of companies for the representations and warranties committed to in the sales agreement. As this line of business continued to soar, Jay knew that the time was right to establish his own program facility. Partnering with Euclid as well as two other industry experts, Phil Casper and Albert Song, Jay attracted Swiss Re and Aspen Insurance Company as paper and began underwriting in July of 2016. Within a short period of time, Euclid Transactional was a leader in this dynamic space. “On the day after I joined our new company, Euclid introduced me to one of our carriers with whom we ultimately partnered. Things fell into place much quicker than I expected and importantly, the services Euclid provided were built out and ready to go immediately. From a speed to market perspective, this model is unbeatable” ~ Jay Rittberg

Ryann Elliott joined Euclid as the equity partner and Managing Principal of Euclid Life Science Specialty in August 2019. Previously serving in the life science segment as the head of a leading market carrier, Elliott brings underwriting, risk and claims experience with a dedicated Life Science focus. Her deep knowledge of the liabilities facing the industry today, coupled with a keen understanding of the individual risks associated with designing policy solutions, has enabled her to develop innovative coverage that addresses today’s highly-complex diversities and integrated risks. This unique expertise, along with the strength of our partner carrier, Nationwide E&S/Specialty, has enabled Elliott to quickly develop one of the only companies of its kind, providing tailored casualty coverage solutions to address the Life Science industry’s need for a broad, enterprise-wide and industry-specific liability coverage.
"Having Euclid’s brand and reputation gives my LLC immediate creditability. Add to this the unique offering we provide in the life science space and we have no limit to what we can accomplish." ~ Ryann Elliott