Liberty International Underwriters US (LIU), a division of Liberty Mutual Group, has launched a new Excess and Surplus Lines (E&S) Property product and appointed Michael Carr to manage this new line of business.
According to the LIU, the new product provides wholesale brokers with a new market for their clients’ commercial property business and targets their mid- and large-sized property portfolio risks with capacity up to $25m.
LIU’s E&S Property product features include all risk, named windstorm, difference in condition, flood and earthquake in catastrophe-exposed areas.
Carr has 18 years of E&S property experience and brings to LIU experience in managing, developing and underwriting commercial property insurance products and programs.
LIU US president David Cohen said that the goal is to be a premier US specialty lines market with broad product capabilities.
"Now that we have completed expansion of our existing products into key market areas, launching a new major product line was the next logical step in our strategy," Cohen said.
"Michael’s experience in managing and underwriting E&S property business, combined with Liberty Mutual’s financial strength and stability, gives brokers a competitive product to offer their clients," Cohen said."