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Argo Group US Forms New Management Liability Platform

IBR Staff Writer Published 29 July 2010

Argo Group US, a subsidiary of Argo Group International Holdings, has expanded its management liability and professional lines capabilities by forming its Argo Management Liability Platform.

Based in Argo Group’s New York office, the Argo management Liability team will address the needs of the middle- and upper-market segments on both an admitted and surplus lines basis.

Argo Management Liability’s portfolio of products will include the coverages on a primary and excess basis, for public, private and not-for-profit organizations: directors and officers insurance; employment practices liability; fiduciary liability; outside directorship liability; errors and omissions; and fidelity and crime insurance.

Argo Group US also introduced Argo Flex-XS, an excess follow form insurance policy. According to the company, Argo Flex-XS is designed to attach excess of management liability and professional lines coverage and is a flexible, streamlined approach to excess coverage. Coverage is available for public, private and not-for-profit organizations.

Laurie Banez will oversee Argo Management Liability operations. Prior to joining Argo Group US, Ms Banez held various senior leadership positions with several management liability insurance carriers.

Ms Banez said: “We’re excited to broaden Argo Group’s management liability and professional lines capabilities through the introduction of the US business platform. We will continue to develop our portfolio of products and services in order to provide creative solutions in response to brokers’ and customers’ management and professional liability insurance needs.”

Mark Peeters, chief professional underwriter at Argo Re, said: “Argo Group’s US management liability platform rounds out Argo Group’s capabilities by expanding upon the professional liability product offerings currently available through Argo Re in Bermuda, Argo Financial Products in London and the niche products offered by Argo Pro in the US. We are pleased to be in a position to offer such a comprehensive portfolio of management and professional liability products to a broad client base.”