USQRisk Announces New Arrangement with AXSAL Re and Keystone Risk Partners
USQRisk, the international managing general agent focused on alternative risk transfer solutions, has entered into a new arrangement with Keystone Risk Partners, which manages AXSAL Re, a member-owned group captive designed specifically for companies that own mid-sized fleets.
“Until now, group captives were only available to transportation companies and other insureds within the primary layers,” said Dr. Parag Bavishi, Chief Underwriting Officer for USQRisk. “Mid-sized fleet businesses will now have a new ability to share in upsides for improved loss experience and a higher degree of budget certainty for excess auto liability exposure. Through alternative arrangements like these, we are bringing something truly unique to the market, and we look forward to emulating solutions like this in the future.”
This new facility is designed to address the limited group captive solutions for excess layers and assist mid-sized fleet owners who are struggling with the recent extreme market volatility. USQRisk’s underwriting and structuring teams will be providing expertise and support to the arrangement, with Keystone Risk Partners focusing on captive management and distribution.
“Earlier this year, we announced the launch of AXSAL Re as an innovative solution for transportation business and fleet companies, and this model has proven to be a success since then,” said Andy Lewis, CEO of Keystone Risk Partners. “It’s exciting to take this first-in-the-industry model and bring it to a unique offering for businesses with mid-sized fleets.”