WTW unveils Canopius-led property insurance facility
WTW unveils Canopius-led property insurance facility | Insurance Business America
Property
WTW unveils Canopius-led property insurance facility
Offering designed to provide additional capacity
Property
By
Terry Gangcuangco
WTW has announced the launch of a new property insurance facility in partnership with Canopius and Verita.
Called Client Edge Facility, the exclusive offering was developed through a collaboration between WTW Corporate Risk and Broking North America (CRB NA), Canopius US Insurance, and Verita Capital Solutions. It will be led by Canopius, which provides capacity via its US excess & surplus paper.
Client Edge Facility aims to cover large and complex property risks, as well as middle-market property risks for shared and layered programs within WTW’s US property portfolio. It enhances property capacity, offering a specialized premium discount and limits of up to $25 million. Additionally, Verita’s expertise will support the facility’s expansion.
“Listening to the needs of clients was the driving force behind the development of Client Edge Facility, an innovative property solution,” declared Lisa Davis (pictured), chief executive for the US and Bermuda at Canopius. “Being able to address evolving client demands in a nimble way such as this is core to how we do business.
“Leading this new property facility is the latest example of our rapidly expanding suite of capabilities in the US, serving as another proof point aligned with our ambitions for strategic growth. I am delighted to partner with WTW and Verita Capital Solutions to bring Client Edge Facility to market.”
Jackie Bolig, CRB NA property & casualty head at WTW, added: “The development of Client Edge Facility was the result of extensive collaboration and commitment of WTW, Verita, and Canopius to develop a new solution aimed at providing needed property capacity for clients, in an efficient manner. We are excited about expanding Client Edge Facility as the market demands.”
For Verita’s Edward Chiang, managing the new facility is a milestone that highlights his camp’s expertise.n“Verita will continue to introduce new, innovative insurance solutions to clients, brokers, and capacity partners,” Chiang said. “I am pleased to partner with WTW and Canopius in launching Client Edge Facility.”
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