(March 2021) Euclid Financial Institution Underwriters, LLC (Euclid Financial) is pleased to announce the hiring of Eric Levine as Claims Director, effective March 15th. Eric will manage the process of internalizing Euclid Financial’s claims management function, where he will design and build out the platform’s claims infrastructure. Eric will be responsible for the management of claims operations of Euclid Financial, including the handling of all claims in conjunction with Euclid Financial’s carrier partners. Prior to joining Euclid Financial, Eric was in the role of Claims Counsel with Validus Specialty in New York, where he was responsible for the oversight of all claims in the Professional Liability lines of business, including Public and Private D&O, E&O, EPL, Cyber and Fidelity. Before joining Validus in 2015, Eric served as Complex Claims Manager with The Catlin Group, where he managed a claims group which handled complex claims matters in the D&O and…
(November 2020) Euclid Financial Institution Underwriters, LLC (Euclid Financial) is pleased to announce the addition of AmTrust Financial Services, Inc. as a carrier partner to its underwriting platform effective November 11th, 2020. AmTrust will take a 45% participation of the platform on a co-certification basis, while Euclid Financial’s existing carrier partner, RenaissanceRe’s Lloyd’s Syndicate 1458 will maintain a 55% participation. “We are very excited to expand our carrier lineup with the addition of AmTrust to our platform. We look forward to working with the AmTrust management team and growing our professional lines book of business. We are also fortunate to be able to continue our strong relationship with RenaissanceRe, who has supported us since our inception in 2015” said Dave McDonald, Managing Principal at Euclid Financial. The carrier change does not impact policies that were bound prior to November 11th, 2020. Any questions regarding the new carrier structure can…
Euclid Specialty’s Managing Principal Daniel Aronowitz and Chief Claims Officer Jeff Koonankeil review the claim and liability trends experienced by employee benefit plans across the country. Euclid’s fiduciary experts, who have authored the Fiduciary Liability Handbook and The Fid Guru Blog, will help your employee benefit plan understand the current risks they face, including: A review of the most frequent fiduciary liability claim trends for defined benefit, defined contribution and health and welfare plans; Analysis of Department of Labor and Internal Revenue Service regulatory audits, including plan expenses, missing participant, and mental health parity issues; Special focus on claim trends of multiemployer and governmental plans; Novel cyber and crime claims experienced by benefit plans; Euclid Specialty’s claim predictions for the coming year, including how the recent market losses and coronavirus pandemic might affect benefit plans; and Question and Answers – ask the fiduciary experts Download Presentation Handout Download Webinar Presentation…
New York-headquartered managing general agency Euclid Transactional has launched an operation in Frankfurt. It is the firm's fifth international office, and will be led by vice president and underwriting counsel Daniel Mösinger. Euclid specializes in writing M&A and transactional liability policies, and has paper from company market carriers including Allianz, Swiss Re Corporate Solutions and Aspen. Mösinger joins from law firm K&L Gates, where he advised clients on cross-border M&A as part of the company's corporate M&A and venture capital team. Commenting on the launch of the new office, Euclid managing principal Kit Westropp said the German-speaking region was fertile ground for M&A transactions, and that the company had seen deal volume and flow expand rapidly in the market since 2018. "We are excited to officially have a home case in Frankfurt, and cannot imagine a better first hire than Daniel. We are confident that he will be an immediate…
As the COVID-19 pandemic continues, life as we knew it is becoming a distant memory. Every aspect is experiencing the impact of a crisis for which most of us find ourselves ill prepared. Every trade, profession and industry is struggling to find a measure of stability in rapidly shifting times. John Colis, president and CEO of Euclid Insurance Services, said part of the risk that program administrators have is because “retail brokers, particularly smaller ones, will be caught in a very difficult situation and will be reluctant to cancel clients they’ve had for five, ten, or fifteen years—many of whom are good friends. PAs need to keep a focused eye on the solvency of their brokers because if the insured pays the broker and the broker doesn’t pay us, we can’t cancel the insured and we’re on the hook to the carrier.” Download Advice From Our Outbreak Program Pros
Euclid Transactional, LLC (“Euclid Transactional”), a leading managing general agent focused on transactional insurance underwriting, today announced four promotions on its North American team of underwriting professionals. The promotions underline the deep and growing talent available to the firm’s clients. Euclid Transactional has seen significant growth over the past two years, including the launch of new practices in Europe, Middle East and Africa (EMEA) and Canada, as well as a new practice in New York focused on tax. Since launch, the firm’s Canada practice has grown to be the largest and most experienced in that country, and its EMEA practice now features more than 11 members. The senior level promotions announced today include: Shawn O’Neill from Senior Vice President to Managing Director Manuel Giner from Senior Vice President to Managing Director Jake Filak from Vice President to Senior Vice President Jon Friedman from Vice President to Senior Vice President Each…
Euclid Program Managers is pleased to announce that Euclid Exec has been acquired by the AmTrust family of companies. The Euclid Exec team, led by Principals and Co-Founders Jim Seymour and Paul Bunone and supported by Euclid Program Managers, has successfully worked with AmTrust for eight years placing coverage for D&O and other management liability risks. Transitioning the business under AmTrust is a natural step in the program’s evolution and development, opening the way for continued growth and success. “AmTrust has been a wonderful partner for Euclid Exec since its founding in 2012. I am delighted that Jim and Paul, and their team will now be formally part of this growing and dynamic company” said John Colis, President and CEO of Euclid Program Managers. “Euclid Exec and Euclid Program Managers, have been great partners for AmTrust over the last eight years and we look forward to…
Euclid Insurance Services, Inc. has formed Euclid Life Science Specialty, LLC (Euclid Life Science), a product and professional liability insurance underwriting platform providing tailored casualty coverage products to the life sciences industry. Ryann Elliott has joined Euclid Life Science Specialty as an equity partner and managing principal. Elliott is an industry veteran in the life science underwriting space, most recently serving as the life science segment head of CNA. She will operate the entity from the East Coast with local underwriting and servicing operations in the Midwest and West Coast. The new facility began accepting new business in mid-September for October effective dates and will underwrite on behalf of Nationwide E&S/Specialty. According to John N. Colis, president and CEO of Euclid, the new operation is part of Euclid’s overall plan for program growth and expansion. View full article on Insurance Journal
As another decade reaches an end and we prepare to welcome 2020 in three months’ time, we glance ahead to what program business might look like at the end of the next decade, an important exercise for the only association solely focused on program administration. With the advances in technology, AI, availability of data, influx of new capital and continued consolidation, this is an industry segment that could look much different 10 years down the road. According to the Target Markets Program Administrators Association (TMPAA)’s studies, this decade began with program business accounting for $17.5 billion in commercial insurance revenue in 2010. That number reached $36.1 billion in 2016, with most of this premium written by TMPAA members. It is expected that the 2019 study will put that figure even higher. The results of that study will be discussed at the 19th Annual TMPAA Summit in October. The association itself…
Itasca, IL and New York, NY– August 19, 2019 – Euclid Insurance Services, Inc. (“Euclid”), today announced that it has formed Euclid Life Science Specialty, LLC (“Euclid Life Science”), a product and professional liability insurance underwriting platform, providing tailored casualty coverage solutions to the life sciences industry. Ryann Elliott joins Euclid Life Science Specialty as an equity partner and Managing Principal. Ryann is an industry leader in the life science underwriting space most recently serving as the life science segment head of a leading market carrier. She will operate the entity from the East Coast with local underwriting and servicing operations in the Midwest and West Coast. The new facility will be accepting new business in mid-September for October effective dates and will underwrite on behalf of Nationwide E&S/Specialty. Nationwide E&S/Specialty brings the support and financial strength to the operation. Euclid Life Science Specialty brings the deep expertise for underwriting…
