Everspan Partners with Ledgebrook on General Liability Program

Rhea-AI Summary

Everspan Group has partnered with Ledgebrook to offer a new program providing general liability and excess liability coverage to mid-market businesses. This initiative will be distributed through wholesale brokers, leveraging Ledgebrook's advanced technology for efficient processing and quoting. Everspan, rated A- (Excellent) by AM Best, emphasizes their commitment to underwriting discipline, welcoming Ledgebrook's innovative approach and industry experience. The partnership is expected to enhance service delivery and efficiency in meeting client needs.

Positive

• Everspan's partnership with Ledgebrook enhances its insurance offerings in the mid-market segment.
• Ledgebrook's technology platform allows for faster quote times, improving service quality for wholesale brokers.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Everspan Group, Rated A- (Excellent) by AM Best, has partnered with specialty MGA Ledgebrook on a new program offering general liability and supported excess liability to mid-market businesses. Coverage will be distributed through wholesale brokers.

Built upon the foundational expertise of underwriters John Mullen and Steve Mills, Ledgebrook's technology platform allows it to process, triage and quote submissions more efficiently, enabling faster quote times and best-in-class service for its wholesale broker partners.

“We are thrilled to partner with the Ledgebrook team, which has a wealth of industry experience and shares our philosophy on underwriting discipline,” Everspan President Steve Dresner said. “Ledgebrook blends deep insurance knowledge with cutting-edge technology. That’s a potent combination.”

“Team Ledgebrook couldn't be more excited to announce our partnership with Everspan and Steve Dresner—a leader whose expansive vision and commitment to disciplined underwriting matches our own,” Ledgebrook Founder & CEO Gage Caligaris said. “The sky's the limit for what we can achieve together!”

About Everspan Group

Everspan Group is a specialty property and casualty insurance platform that operates nationwide on an admitted and non-admitted basis. The companies which comprise the Everspan Group are wholly owned subsidiaries of Ambac Financial Group, Inc. (NYSE: AMBC), an insurance holding company. For more information, please refer to www.everspangroup.com.

About Ledgebrook

Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, Ledgebrook offers the best of both worlds: deep insurance expertise empowered by the best of modern technology. Visit us at ledgebrook.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005108/en/

Investors:

Charles Sebaski

Managing Director, Investor Relations

csebaski@ambac.com

Media:

Kate Smith

Director, Corporate Communications

212-208-3452

ksmith@ambac.com

Source: Everspan Group

FAQ

What is the partnership between Everspan Group and Ledgebrook about?

Everspan Group has partnered with Ledgebrook to provide general liability and excess liability coverage to mid-market businesses through wholesale brokers.

How does Ledgebrook's technology improve the quoting process?

Ledgebrook's technology platform enhances the efficiency of processing and quoting submissions, enabling faster response times for brokers.

What rating did Everspan Group receive from AM Best?

Everspan Group is rated A- (Excellent) by AM Best.

What type of insurance does Everspan Group offer?

Everspan Group offers specialty property and casualty insurance.

When was the partnership between Everspan and Ledgebrook announced?

The partnership was announced in a recent press release dated April 17, 2023.