SiriusPoint partners with Tara Hill for liability portfolios

SiriusPoint partners with Tara Hill for liability portfolios | Insurance Business America

Insurance News

SiriusPoint partners with Tara Hill for liability portfolios

Backing will be vital in program administrator’s further growth

Insurance News

By
Kenneth Araullo

SiriusPoint has launched a strategic partnership with excess and surplus (E&S) program administrator Tara Hill Insurance Services to enhance its liability portfolios.

Tara Hill was founded to build an E&S portfolio concentrating on private management liability and miscellaneous professional liability coverage for small to medium-sized risks, SiriusPoint announced in a statement.

Established in 2023 by Peter McKeegan with the support of Cirrata Group, the insurance distribution division of Ambac Financial Group Inc, Tara Hill underwrites directors and officers (D&O), employment practices liability, fiduciary liability, and miscellaneous professional liability insurance for private clients.

“This is a great opportunity to work with a best-in-class program administrator with expert knowledge of the D&O and (errors and omissions) space,” said Patrick Charles (pictured above), head of North America insurance at SiriusPoint.

He added that with Ambac’s financial backing and McKeegan’s leadership, Tara Hill has an ideal platform to launch its new program.

Peter McKeegan, founder and CEO of Tara Hill, expressed enthusiasm about the partnership.

“We are looking forward to working with SiriusPoint. With SiriusPoint’s experience of working with both carrier divisions and (managing general agents), their backing will be a vital part of the execution of Tara Hill’s growth and profitability,” he said.

Previously, SiriusPoint partnered with NIP Group to establish a new E&S program underwriting platform, initially working within NIP’s LandPro program, which serves the landscaping industry. This collaboration aims to meet the needs of landscaping companies in the United States, providing year-round services, including landscape construction and snow removal.

In other recent developments, SiriusPoint and Euclid Security Programs, a boutique managing general underwriter (MGU) specializing in security industry risks, have forged a new strategic partnership.

As part of the partnership, SiriusPoint will become the sole carrier partner for Euclid Security’s liability program, which covers security services, alarm services, and fire suppression protection.

What are your thoughts on this story? Please feel free to share your comments below.