Skyward Specialty Expands Healthcare Appetite with Rebrand and Adds Individual Provider Coverage
- Expanding coverages in the healthcare sector will likely attract more customers and increase revenue.
- Addressing the needs of the underserved market can lead to the growth and success of healthcare professionals.
- None.
HOUSTON, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) ("Skyward Specialty" or "the Company") a leader in the specialty property and casualty (P&C) market, announced it is expanding its coverages in the healthcare sector adding a new solution catering to the distinct needs of E&S individual providers, including physicians.
The healthcare landscape continues to present new challenges and opportunities for healthcare professionals, especially for individual providers and physicians. The demand for this type of coverage has outpaced the insurance market’s capacity and capabilities, resulting in a growing need for bespoke solutions for healthcare professionals.
“We understand the critical role that individual providers and physicians play in the healthcare ecosystem. Through conversations with our brokers and industry partners we recognized there was a significant gap in the market that we are in a position to address,” said Sarah Logue, senior vice president, Healthcare Solutions.
Additionally, the nation is facing an unprecedented shortage of individual providers and physicians with fewer healthcare professionals entering the market and experienced professionals leaving the market due to costly malpractice suits and rising costs of litigation. Many practitioners have difficulty obtaining tailored solutions due to their history and often are left with limited coverage options and even fewer carriers to turn to.
“We believe that by addressing the needs of this underserved market, we are providing peace of mind for practicing professionals while also supporting the growth and success of healthcare professionals across the country,” said Logue.
The Company’s newly named Healthcare Solutions underwriting unit, formerly known as Allied Health, was established in 2021. Since that time the Company has taken bold steps to reach underserved markets beyond the traditional Allied Health scope.
John Burkhart, president of Specialty Lines at Skyward Specialty, commented “When we brought Sarah Logue and her team on, we knew we were ushering in a new phase of growth in this sector. And now, just one year later, we are launching Healthcare Solutions with new investments in talent and innovative solutions that will have a real impact on the marketplace and place us fully on a path to expand our current solutions and set us up for opportunities to come.”
The Healthcare Solutions team will begin accepting submissions for Individual Provider coverage on Monday, October 2.
About Skyward Specialty
Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.
Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated “A- (Excellent)” with a positive outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.
Media Contact
Haley Doughty
Skyward Specialty Insurance Group
713-935-4944
hdoughty@skywardinsurance.com
