PartnerRe involved in liability insurance for security industry
PartnerRe, the Bermudian-based global reinsurer, along with Illinois-headquartered Euclid Program Managers and Euclid Security Programs LLC, have announced the carrier partnership for a security industry liability insurance programme.
Effective immediately, Euclid Security will be writing on behalf of PartnerRe’s newly launched insurance programmes unit, whose issuing company, PartnerRe Insurance Solutions Bermuda Ltd, is rated A+ (Superior) by AM Best, Financial Size Category XV, the companies said.
Euclid Security is a programme administrator offering specialised, comprehensive liability coverages for security industry risks. Under its new facility, Euclid Security will offer commercial general liability, errors and omissions liability, and commercial excess liability (supported and unsupported) for security guards and patrol agencies, private investigators, security consultants, security training schools, alarm contractors, alarm monitoring companies and fire suppression contractors.
Ed LaFramboise and Larissa Gallagher are principals of Euclid Security, each of whom has more than 15 years of experience in the insurance industry, with almost 20 years’ combined security industry experience.
“Euclid and Euclid Security are the type of long-term partners we are looking for and we are excited to build a long-term successful programme together,” said Joseph Hooks, head of insurance programmes at PartnerRe.
Mr LaFramboise, managing principal of Euclid Security, said: “We are honoured to be working with PartnerRe’s insurance programmes unit on this programme.
“With the backing of PartnerRe’s intellectual capital, renowned underwriting discipline and superior financial strength, we look forward to supporting the security industry and our broker partners for their liability insurance needs.”
John N. Colis, the president and CEO of Euclid, said: “Adding PartnerRe to Euclid’s family of carrier partners is consistent with Euclid’s track record of working with best-in-class programme carriers.
“PartnerRe’s reputation and resources paired with Euclid Security’s quality underwriting team is a winning combination.”
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