OneAdvent-backed Verve Risk Services launches new captive insurance product

Verve Risk Services, a provider of professional and management liability solutions for insurance intermediaries and captives, has launched a new captive insurance product along with its ‘Verve Aura’ broker portal. This expansion follows an investment from BP Marsh over a year ago and continued support from OneAdvent.

The newly introduced ‘Micro-Captive Defender,’ developed in partnership with Michael Maglares & Company, offers defense cost coverage for captive insurance companies, including protection against fines and penalties related to IRS investigations of 831(b) status.

Verve has also launched the ‘Verve Aura’ portal, designed to streamline quoting, document production, and invoicing for brokers. “We wanted to make the system as easy to use as possible,” said Alan Lambert, director and co-founder of Verve.