It targets expansion with new platform
By Kenneth Araullo
Feb 15, 2024 Share
Celerity Professional Liability Underwriters (Celerity Pro) has transitioned carriers to Lloyd’s of London and the London Markets for cyber risk, miscellaneous professional liability, and directors and officers (D&O) liability insurance offerings.
Lloyd’s of London, Celerity Pro explained, aligns closely with firm’s objectives and distribution goals. It allows for broadened product distribution.
The firm has expanded its brokerage territory to cover the entire United States for all product lines, increasing its capacity to provide quotes. This expansion also allows it to cater to privately held companies with up to $500 million in revenue for D&O, cyber, and professional liability insurance, and publicly traded companies with up to $2 billion in market capitalization for D&O insurance.
In addition to these strategic carrier changes, Celerity Pro has introduced Shop X, a new online digital platform designed to streamline the quote and policy acquisition process for brokers. This platform enables quick access to quotes and policies for cyber, miscellaneous professional liability, and private company D&O/combo insurance, minimizing the need for account referrals.
The platform is especially geared towards miscellaneous professional liability and private company D&O/combo products, targeting a variety of industries with eligible account sizes of up to $50 million in revenue.
Carl Pursiano (pictured above), president and founder of Celerity Pro expressed enthusiasm about the new partnerships.
“Not only can our underwriters offer cyber, professional liability, and directors and officers liability insurance to more brokers across the United States, but our account appetite has been expanded to encompass larger companies and a wider variety of eligible classes,” Pursiano said.
In other recent D&O developments, Marsh McLennan has introduced an enhancement to its directors and officers (D&O) insurance offering through the D&O Echo facility.
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