Encore Fiduciary Expands Beyond Its Fiduciary Insurance Roots to Offer Broader Management Liability Insurance for Private and Not-for-Profit Entities
CHICAGO, Aug. 21, 2024 /PRNewswire/ — Encore (formerly Euclid) Fiduciary, a division of Specialty Program Group LLC, has announced that it is expanding beyond its core fiduciary insurance focus to offer management liability insurance for private and not-for-profit companies. Backed by the same market-leading expertise that Encore has brought to fiduciary insurance, the Encore Management Liability “Quattro” policy will offer four key coverages – Directors & Officers Liability, Employment Practices Liability, Fiduciary Liability, and Crime Insurance – necessary for private and not-for-profit companies to effectively protect their organizations.
Encore is teaming up with Coverys® Group* which is rated “A” (Excellent), financial size category XV ($2 billion or greater) by A.M. Best. The program will be offered on a national, admitted basis for private companies and not-for-profit organizations.
“We are excited to be working with Coverys, which is entrusting Encore with underwriting and claims authority based on our extensive management liability experience,” says Keith Lavigne, Chief Underwriting Officer at Encore. “With our newly launched market-leading package policy, our underwriting and claims teams will provide continued expert and responsive service for our brokers and clients.”
Valoree Celona, President, Coverys Programs, added: “Encore’s proven track record of success and specialized expertise make them a perfect partner for Coverys. We are proud to join forces with the Encore team and look forward to setting new standards of excellence in the market. Our partnership combines our strengths to deliver an amazing product and it will elevate our offerings and advance our strategy to diversify.”
The Encore “Quattro” Policy will offer key benefits to management liability brokers and their clients:
- Superior Coverage: We provide comprehensive management liability insurance, ensuring expert, responsive, and customized coverage.
- Risk Management: Policyholders receive advice from our management liability, employment practice, and fiduciary experts to manage complex risks and prevent claims.
- Expert Claims Handling: Our experienced claims professionals offer efficient and effective resolution of complex claims, with direct access to decision-making experts for optimal legal defense.
Encore’s “Quattro” Management Liability policy is now available to qualified brokers and organizations looking for a more effective way to manage their liability risks. For further details on how Encore’s “Quattro” policy can address your organization’s specific needs, please visit encorefiduciary.com/employee-benefit-plans/management-liability/
About Specialty Program Group
Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL, with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry-leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network. Visit specialtyprogramgroup.com to learn more about how SPG can help you scale your specialty business.
About Encore Fiduciary
Encore (formerly Euclid) Fiduciary is a premier management liability insurance underwriter. Started in 2011, with a focus on best-in-class management liability insurance, Encore Fiduciary has grown into the fiduciary choice of many of America’s most sophisticated insureds and is known for management liability expertise, industry-leading thought leadership, and unique advocacy and expert claims service. For more information, contact Keith Lavigne at klavigne@encorefiduciary.com, Daniel Aronowitz at daronowitz@encorefiduciary.com, or John O’Brien at jobrien@encorefiduciary.com.
About Coverys
With over $4 billion in assets and almost 50 years protecting the healthcare industry, Coverys provides a full range of healthcare liability insurance options. In 2016, Coverys began to incorporate various avenues for diversification outside of its traditional MPL footprint into its strategic plan and later brought on several experienced hires to build out its Programs initiative as part of their multi-year plan to diversify the company’s portfolio. For more information, contact vfrankfort@coverys.com.
* A.M. Best rating is held by Medical Professional Mutual Insurance Company and its affiliate underwriting companies.
CONTACT:
SPG Media: Lea Prses
Lea.prses@specialtyprogramgroup.com
Encore Fiduciary: Keith Lavigne
Phone: 347.421.3867
klavigne@encorefiduciary.com
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SOURCE Specialty Program Group
