Lloyd’s Syndicate launches Charlotte-based professional indemnity insurer

Beat Capital Partners, a London-based underwriting franchise incubator and subsidiary of Ambac Financial Group, said it has launched a Charlotte-based professional indemnity insurance company.

ProRise Insurance Services will spin off on Oct. 1, with Doug Karpp, formerly of Hiscox and AIG, as CEO, Beat Capital said in a press release.

ProRise, which specializes in managing small and medium-sized businesses, will write for a consortium led by Beat Syndicate 4242 at Lloyd’s, company leaders said. Products will be distributed through wholesale brokers and will include private directors and officers, non-profit directors and officers, employment practices liability, fiduciary liability, crime and professional indemnity insurance tailored for various professionals, architects and engineers and professionals in allied health.

Beat has launched 12 businesses since its inception in 2017, the bulletin said.

TOPICS
Carriers’ Liability Excess Surplus New Markets Lloyd’s Professional Liability