OneBeacon Insurance Group, Ltd. has formed its newest specialty business, OneBeacon Program Group (OBPG), which will be led by President Dan Beaudette. The group will focus on small to medium commercial business written through select managing general agents, managing general underwriters and program administrators.
OneBeacon Program Group will offer a range of multiâ€line package products including, but not limited to, general liability, professional liability, property/inland marine, auto, excess, crime, and cyber coverage as well as other specialty lines of business. The products are available countrywide on both an admitted/nonadmitted basis, and the new program unit will be headquartered in Denver, Colo.
Capacity will depend on the program needs, but can range from $10 million casualty and up to $25 million per location property. Higher limits may be considered, depending on the program needs and results.
Beaudette says some classes the program group will not be pursuing are unsupported or monoline workers compensation programs; heavily CAT exposed property programs; mainstream personal lines; and surety programs.
The new group plans to work primarily with industry specialists who are focused on the program segment.
Claims administration will be handled by OneBeacon’s claims specialists or by approved thirdâ€party administrators.
Beaudette’s prior experience includes nearly 15 years in the program insurance business with national carriers. Joining Beaudette are Senior Vice President and Chief Underwriting Officer Greg Deville, Senior Vice President Randy Worth and Claims Vice President, Bryan Wakefield.