Bermudian-based Ascot Group has launched a miscellaneous professional liability unit to provide comprehensive coverage for a wide range of professional service industries.

Under the leadership of Todd Cusano, senior vice-president, professional liability, MPL is the latest unit to join Ascot’s suite of professional liability offerings under the organisation’s AscotPRO business segment.

The organisation said the launch of a new MPL unit broadens Ascot’s specialty product suite, thereby helping firms achieve the certainty and resiliency needed to protect their financial stability and reputation.

MPL will be offered as a stand alone product on a primary and excess basis, and on a blended basis alongside cyber liability, media liability and technology E&O offerings.

Mr Cusano said: “Professional service firms today are facing ever-evolving exposures set in a climate of escalating court settlements and increasing damages.

“Ascot has expanded and enhanced our existing MPL offering under a dedicated unit to help provide customised solutions to a growing range of firms.

“This launch increases our relevance with our trading partners and clients by delivering stand alone and blended solutions along with leading risk management tools to effectively meet their growing needs.”

Brian Chiolan, executive vice-president and head of US financial lines, added: “As our organisation grows, we continue to find ways to simplify the customer and broker experience while providing them with best-in-class service and solutions.

“The launch of a dedicated MPL business unit, as well as the reorganisation of our professional liability suite as AscotPRO under Drew Walter, executive vice-president and head of AscotPRO, both illustrate our deep commitment to our professional services customers. We look forward to delivering an expanded suite of solutions to our brokers and clients in this space.”