Aspen U.S. Insurance has announced that it has formed a strategic alliance with the managing general underwriting agency, V3 Insurance Partners, in order to be able to sell the optional premises liability and miscellaneous professional liability program called Vantage 360® MPL+ to every state in the country.
This program was created with professional service companies in mind; specifically those with less than $15 million in yearly revenues. The program is for wholesale brokers only by way of V3. Protection is made available on both a non-admitted and admitted basis. V3 will be writing the policies on behalf of the Aspen Group’s American insurance companies which have received an excellent (A XV) rating Aspen Insurance UK Limited and AM Best.
Vantage 360® MPL+ is a program that provides 65 technology E&O classes among its over 450 professional classes, and is provided on a policy form that is truly innovative. Improvements that are unique to this program include an extension to the coverage for reputation restoration, as well as a clause for consent-to-settle without any “hammer” provisions.
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Additionally, the program offers optional features that include contingent property damage and bodily injury, full prior acts, privacy & network security coverages, and intellectual property.
Senior vice president Ross Goodman, of Aspen US Insurance said that the company is “thrilled” to make their announcement regarding this new alliance and of the introduction of the new program. He went on to say that “This program will provide our partners in the wholesale brokerage community with a truly unique offering.”