Celerity Risk expands into financial institutions

Celerity Risk , a Ryan Specialty managing general underwriter, is expanding into directors and officers and professional liability insurance for financial institutions and financial services companies.

The offering is available through wholesale brokers, with up to $5 million in limits on a primary or excess basis. Coverage is backed by insurers rated A+ XV by AM Best.

The program targets investment advisers, mutual funds, private equity and hedge funds, banks, non-bank lenders, insurance companies, real estate investment trusts, fintechs, insurtechs and other financial firms.

Depending on the type of business, Celerity Risk will offer blended D&O and professional liability coverage or standalone D&O insurance.

“Celerity Risk’s expansion into financial institutions builds on our underwriting expertise and gives us the ability to offer products designed for banks, asset managers, and other financial firms with responsive, broker-focused insurance solutions. This offering reflects our commitment to disciplined underwriting and managed growth in the financial institutions space.” – Carl Pursiano, President of Management Liability, Celerity Risk.