Guy Carpenter announced that the US business of affiliate Victor, the world’s largest managing general underwriter, will offer Guy Carpenter clients who are members of US public entity insurance pools a wide range of property and casualty insurance solutions not traditionally offered by the pools.
Public entity insurance pools provide property and casualty coverage to the majority of local governments in the United States. As part of its Public Entity Facility, Guy Carpenter provides highly focused consulting and reinsurance intermediary services tailored to address a pool’s operational and strategic risks. The offering from Victor will give individual local government pool members access to insurance solutions covering risks such as cyber liability, flood and special events.
“The support of Victor will give our clients the ability to offer their members access to virtually any property casualty coverage they may need, deep insurer relationships, and market-leading service support,” said Mike Waterman, Guy Carpenter’s Public Entity Segment Leader.
Bill Balderston, Head of Broker Distribution, Victor US, added: “From the growing risks around terrorism and active shooters to the need to protect against adverse weather, local governments across the United States are facing an increasingly complex risk landscape. Through our collaboration with Guy Carpenter we will now be able to offer them a breadth of insurance solutions they need in one convenient place.”
Victor US works with leading insurance carriers to offer a wide range of products and programs, which are distributed through independent agents and brokers in all 50 states. Formed over 60 years ago, Victor US is one of the largest underwriting managers in the United States.
The enhanced Guy Carpenter Public Entity Facility will begin placing business on January 1, 2020.