Wholesale broker CRC has added to its relationship with sister company Amrisc with the creation of a new non-cat excess quota share property offering under its Insurisk banner, The Insurer can reveal.
The quota share capacity is focused on non-cat territories with a $10mn minimum attachment.
It provides up to $25mn of capacity on a placement and will entertain participation on property schedules with total insured values of up to $750mn.
The product can be written on an all risk basis including flood and quake, or as a straight all risk placement.
It excludes hab, energy, builders risk, heavy manufacturing and a number of other classes, however.
The new offering has been soft launched, with CRC already putting submissions through to Amrisc’s Insurisk Program team of underwriters led by Gordon Forbes.
Although the identity of the markets supporting the non-cat quota share are not known, they are thought to come from Amrisc’s existing panel of insurers.
Amrisc underwrites on behalf of a panel that includes Lloyd’s, QBE, Zurich, HDI Global Specialty, Lexington, Old Republic, Axa XL, Scor and Safety National on an E&S basis, as well as American Coastal on an admitted basis.
The move represents something of a departure from Amrisc’s core suite of cat-focused offerings.
The new non-cat quota share is also being offered by CRC in addition to its QSP+ product which is also now written by Amrisc and its panel of carriers after the MGA took over from Liberty International Underwriters.
LIU had previously fronted the quota share cat-focused property facility backed by alternative capital.
QSP+ provides a follow-form solution with up to 50 percent participation in primary and/or excess layers on property placements.
The tie-up with BB&T stablemate Amrisc on the two quota share facilities is in addition to a new cat product called Insurisk Cat+ which was launched earlier this year to provide up to $15mn of limits to cat-exposed accounts.
All three facilities with Amrisc are offered under CRC’s Insurisk umbrella, which was launched this year to house the wholesale broker’s exclusive products.