Roundstone Management, Ltd. & ProAssurance Specialty Insurance Company, Inc. Announce Managing Gene

By: Roundstone
 
WESTLAKE, Ohio - Feb. 25, 2014 - PRLog -- Roundstone Management, Ltd. and ProAssurance Specialty Insurance Company, Inc. are pleased to announce a new Managing General Underwriter Agreement.  This new arrangement provides general liability and professional liability coverage for nursing homes participating in a special program utilizing a reinsurance captive through Roundstone’s segregated account facility.

ProAssurance Specialty will be fronting policies that will leverage Roundstone’s deep experience to offer turnkey HUD and bank compliance while maintaining the flexibility and cost savings available through captive insurance.

Roundstone’s management team founded a similar program in 2003 and worked with ProAssurance Specialty through 2007, when the program was sold to a competitor. This new agreement recreates that successful partnership and offers the market a compelling alternative at a time when creative approaches to insurance coverage are in demand.

Michael Schroeder, President of Roundstone, remarks, “After managing a successful program through 2007, we are looking forward to returning to the healthcare professional liability business, especially as there is now a void in the marketplace with the announced exit of American Safety.  We are confident that our new partnership with ProAssurance will help us create new opportunities for our companies, and those we seek to insure.”

Roundstone Management, Ltd. (“Roundstone”) based in Westlake, Ohio is an insurance organization focused on the development, underwriting and servicing of alternative risk products, including captives, rent-a-captives and specialty insurance programs. Roundstone offers intermediaries and buyers an expertise in the captive marketplace with an unbundled services approach utilizing the facilities of Roundstone Insurance, Ltd., a class III Bermuda reinsurer registered as a segregated account company. Visit www.roundstoneinsurance.com for additional information and resources.

ProAssurance Corporation is an industry-leading specialty insurer with extensive expertise in medical professional liability, products liability for life sciences and the medical technology industry and legal professional liability. ProAssurance is recognized as one of the top performing insurance companies in America by virtue of its inclusion in the Ward's 50 for the past seven years. ProAssurance is rated "A" (Strong) by Fitch Ratings; ProAssurance Group is rated "A+" (Superior) by A.M. Best.

Contact
Jennifer Boerio
***@roundstoneinsurance.com
4406170333
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Source:Roundstone
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Tags:Roundstone, Proassurance, Insurance, Managing General Underwriter, Captive Reinsurance
Industry:Business, Insurance
Location:WESTLAKE - Ohio - United States
Subject:Joint Ventures
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