20 March 2024

SiriusPoint has partnered with specialty program manager NIP Group to launch a new E&S program underwriting platform.

The two firms said the partnership will enable them to harness their collective strengths through combining the capabilities of admitted, E&S, and alternative risk segments with program underwriting.

The platform will support NIP’s portfolio of more than 25 programs, with the two firms initially focused on developing NIP’s LandPro program for landscapers.

The two companies said the collaboration will aim to cater to the unique requirements of top US landscaping companies, with all-year services including landscape construction and snow removal.

Following this initial launch, NIP and SiriusPoint said they will apply their solutions across other NIP programs on a targeted basis, further elevating NIP’s product offering.

Patrick Charles, head of North America insurance at SiriusPoint, said: “We are looking forward to working with NIP, which has a strong reputation for creating successful programs within niche markets in the US.

“This strategic partnership represents a continuation of our commitment to achieving sustainable underwriting profitability by building relationships with programs that align with our specialisms and risk appetite.

“I’m pleased that the stability and expertise we offer in the program space is continuing to attract high-calibre program administrators such as NIP.”

Tom Doherty, SVP of national programs at NIP, said the new platform will leverage SiriusPoint’s expertise and speed to take advantage of favourable market conditions: “This partnership allows us to offer comprehensive solutions across our admitted, E&S, and alternative risks underwriting platforms to our specialty broker network.

“By combining these underwriting capabilities with our integrated wholesale team, we can provide brokers with sophisticated solutions through a single, streamlined relationship.”

NIP launched a series of new programs last year, including AsphaltPro, UtilityPro, and PoolPro.

View this article here: https://www.theinsurer.com/news/siriuspoint-and-nip-group-partner-on-es-program-platform/ 

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