Rokstone Construction Risk Underwriters (CRU), the US-based unit of specialty MGA Rokstone and focused on casualty and builder’s risk insurance products, has announced the launch of a new following form Lead Excess product.
This product is designed to sit above any primary product offering, giving another layer of protection in the event of a major claim. Distribution partners will be able to work with one individual for both the Primary and Excess products offered by Rokstone CRU.
Like Rokstone CRU’s General Liability product, the Lead Excess product will focus on controlled insurance programs for both contractors and owners, as well as project specific policies for contractors.
Construction projects are historically complex and filled with hazards, making this product exactly what customers and broker partners need, according to Rokstone CRU President Michael Simone.
“The lead excess space has been a strain on many of our customers, and it was imperative that we develop a product that delivers on consistency and stability,” he said.
“The Rokstone platform will now be able to provide our superior claims management, disciplined underwriting and quality risk engineering services to our customers from the Primary through the Lead Excess.”
Capacity is available on a non-admitted basis nationwide, and is designed to avoid duplication of coverage or gaps in coverage.
And by offering both the Primary and Excess layers, there are significant efficiency gains to benefit customers from a claims perspective.
Greater collaboration and communication between Primary and Excess via Rokstone, through the sharing of material information between the insured, defense counsel and insurer, promotes superior analysis and decision making, producing better results for customers.
Prompt actions will result in a reduction of costs and expenses, by advancing the closure of files as quickly and efficiently as possible. Linking Primary and Excess will enable early engagement with the Excess carrier partner.
Richard Isgard, Head of Claims and Partner at Rokstone CRU, discussed in greater detail with Marketing Director Matt Field exactly how customers would see an improvement in their claims experience, thanks to the launch of this new product.
Watch the latest episode of our video series ‘Rokstone Explores’ to discover more.
