Emerald Bay Risk Solutions launches inaugural casualty program
Emerald Bay Risk Solutions, a collaborative underwriting carrier, announced a strategic partnership with Vanderbilt Properties Associates, a risk purchasing group comprising a large portfolio of high-end residential and commercial real estate properties as its members, to launch its inaugural casualty program.
The program will provide capacity for an excess liability facility for high-end co-op and condominium buildings in New York City and other selective major metropolitan areas. Reinsurance for the program is led by a market-leading carrier, carrying an A++ rating from AM Best. Additionally, Emerald Bay collaborated closely with Vanderbilt on the development and implementation of cloud-based, data-driven technology infrastructure to modernize its operations.
“Emerald Bay’s collaborative model and tailored approach to underwriting was a crucial factor in our decision to create this partnership,” said David Rosen, President and Chief Executive Officer of Vanderbilt. “Not only is Emerald Bay retaining a meaningful risk position in the program, but they have also helped enhance our business by creating solutions to augment our operational infrastructure with cutting edge technology that ensures long term sustainability.”
“We are thrilled to partner with Vanderbilt for our first casualty program,” said Ken Sharp, Head of Casualty Underwriting at Emerald Bay. “Our deep underwriting expertise will enable us to drive a differentiated risk management architecture that is closely aligned with our partners. This collaboration marks a significant milestone for Emerald Bay as we expand our capabilities in the insurance market with innovative, client-centric solutions.”
“Our ability to collaborate goes beyond underwriting to also include bespoke technology solutions that support the modernization of our partners’ businesses,” said John Lucking, Chief Technology Officer at Emerald Bay. “By working closely with the Vanderbilt team, we developed custom, cloud-based solutions that streamlined operations and enhanced data analytics capabilities to drive operational efficiency and long-term business growth.”
Emerald Bay launched in March 2024 with backing from Bain Capital Insurance to deliver tailored insurance solutions, “consistent underwriting results,” and long-term, mutually valuable partnerships with a select group of high-performing managing general agents and market-leading reinsurance partners.
