By David Bull

Feb 21 - (The Insurer) - United Risk’s Rivington Partners has transitioned its environmental programs from Beazley to the AM Best A rated paper of Palomar Excess and Surplus Insurance Company in what represents an expansion of the relationship between the MGA platform and specialty insurer.

In a statement provided to Program Manager, Rivington Partners confirmed Palomar E&S will provide coverage for environmental exposures, in a move it said strengthens its commitment to delivering “top-tier” insurance solutions while maintaining the “expertise and service that clients have trusted” since the programs began underwriting in 2017.

A source familiar with the situation said the business, led by Rivington Partners president Cindy Worthington and supported by vice president Matthew McPhee, had most recently been written on the paper of Beazley, which had been the capacity partner for around eight years.

The statement from Rivington Partners said that coverage provided in partnership with Palomar E&S is consistent with that offered by the MGA’s previous carrier for its environmental book.

It added that Rivington has “fully restored” its appetite for environmental contractors business on both a primary and excess basis.

“This development presents new opportunities for brokers and clients seeking reliable and comprehensive environmental insurance solutions,” said the statement.

Worthington commented: “We are thrilled about our partnership with Palomar and the value it brings to our clients. Our team remains unchanged, and we look forward to continuing to provide the high level of service and expertise that our partners expect.”

Palomar executive vice president and head of programs Jason Sears has a long association with Rivington, where he was also an executive vice president before moving over to the specialty insurer.

Sears added: “I'm thrilled to collaborate once again with the Rivington Team. Their expertise and exceptional service are well-known in the environmental insurance marketplace, and I have full confidence in a seamless transition as they continue to expand their program and product offerings.”

EXPANDED RELATIONSHIP

According to the source, the transition of the environmental business to Palomar E&S paper comes after last year another Rivington Partners unit Concept Special Risks moved its program business from Munich Re paper to Palomar.

Concept Special Risks focuses on yacht insurance offering products on a primary and excess basis.

The source said discussions are ongoing around further deepening the partnership between Palomar E&S and United Risk, including its Rivington Programs business.

United Risk is led by former SiriusPoint chief executive Dan Malloy as CEO. It was launched by Applied Underwriters in 2023 as a consolidation of the group’s MGA and MGU business.