Aspen Partners With V3 On New Programme

October 28, 2011

The US subsidiary of Bermuda-based Aspen Insurance Holdings Ltd. has entered into a strategic alliance with V3 Insurance Partners LLC, a managing general underwriting agency, to offer a miscellaneous professional liability and optional premises liability programme available in all 50 states.

Designed for professional services firms with under $15 million in annual revenues, the programme is offered exclusively for wholesale brokers through V3.

Coverage will be available on both an admitted and non-admitted basis, and all policies will be written by V3 on behalf of the Aspen Group’s US insurance companies, rated A (Excellent) XV by AM Best as well as Aspen Insurance UK Limited.

The Vantage360(R) MPL+ offering encompasses more than 450 professional classes, including 65 technology E&O classes, and is offered on an innovative policy form. Unique enhancements include a reputation restoration coverage extension and a consent-to-settle clause with no “hammer” provisions.

Optional features include full prior acts, contingent bodily injury and property damage, intellectual property and privacy & network security coverages.

“We are thrilled to announce our partnership with V3, and to introduce Vantage360(R) MPL+”, commented Ross Goodman, senior vice president, Aspen US Insurance.

He added: “This programme will provide our partners in the wholesale brokerage community with a truly unique offering, including an admitted capability as well as an option to include premises liability coverage. It will also serve as the ideal small account complement to Aspen’s existing portfolio of middle-market and large miscellaneous professional liability accounts.”

“The miscellaneous professional liability market continues to expand. The lack of a significant economic recovery continues to fuel the growth of small, home-based consulting and service businesses. V3 is pleased to work with the creative underwriting and claims professionals at Aspen to develop a customized product, including the premises liability feature, responding to the needs of this market segment,” said Robert Parker, SVP and Professional Lines National Practice Leader, V3 Insurance Partners.

“V3 stands for vision, value and virtue”, said Susan Rivera, president and CEO, V3 Insurance Partners. She continued: “We have an unwavering commitment to anticipate clients’ needs, to offer quality service that exceeds expectations and to deliver genuine value based on years of experience”.

Aspen Insurance Holdings provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States.

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  1. Aspen Partners With V3 On New Programme « 4-Liability | October 28, 2011