Insurance Distribution

Pen Canada Reaffirms Commitment To Canadian Not-For-Profit D&O Sector

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Burlington, ON (May 5, 2017) – Pen Underwriting Canada is pleased to announce its continued commitment to the not-for-profit D&O sector in the face of difficult market conditions, and its ongoing investment in its purpose-built e-trading platform to facilitate the growth of this business line.

Pen Canada launched its e-trading platform in July 2016 in response to broker demand for a quick-quote, competitive D&O insurance solution that meets the fast-evolving risks and liabilities faced by today's directors and officers. The platform comprises a fully mobile quote & bind solution combined with a broad policy wording to address, and provide protection against, the main concerns of Canadian company directors and officers.

Key benefits of the platform include:

  • A+ rated capacity;
  • Ability to quote, bind & issue policy within five minutes and all online;
  • Quote and policy saved within platform for easy download;
  • Fully mobile and accessible on the go, requiring only internet access.

Glenn Woodard, Underwriting Director for Pen Canada, said: "Market conditions are tough in not-for-profit D&O and we have seen some of our peers exiting this line. However it has always been, and remains, a key class for us and one we are fully committed to, as we have market leading expertise and experience to navigate through the challenges.

"Since the launch of our purpose-built platform, we have generated 1,400 quotes and issued 600 policies 'on-the-go', which is a testament to the quality of our underwriters' expertise in this sector. We are focused on making business with Pen Canada as easy as possible and will continue to support our brokers and offer innovative solutions that address the risks clients in the not-for-profit D&O sector face."

About Pen Underwriting Canada

Pen Underwriting Canada is a specialist underwriting business and subsidiary of Arthur J. Gallagher Canada Limited. It was launched to provide solutions for hard-to-place accounts for Canadian clients and offers a growing range of niche products. For more information, please visit www.penunderwritingcanada.com.

Source: Pen Underwriting Canada Ltd.


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