Counterpart partners with Westfield Specialty

Management and professional liability insurance startup Counterpart has announced a new partnership with Westfield Specialty Insurance to provide an admitted product for Counterpart’s small business customers and, for the first time, nonprofit organizations, through its network of broker partners.

The partnership with Westfield Specialty represents one of three A rated insurance carriers to back Counterpart, which is already supported in the surplus lines by Aspen Insurance and Markel.

The new admitted management liability product extends Counterpart’s offerings to for-profit businesses with less than $350 million in revenue or 500 employees, which represents 99% of US businesses, as well as over one million 501(c) organizations.

The new Counterpart/Westfield Specialty admitted product offering is already available in 35 states, complementing Counterpart’s existing program offerings in all 50 states.

“Westfield is one of the most recognized brands in insurance and has been an A rated carrier for almost 90 years, making it an ideal partner to support us on our mission to help reduce risk for all businesses operating in all industries. This partnership combines Westfield’s renowned history and expertise with Counterpart’s leading software and services to set a new standard of excellence in commercial insurance.” – CEO of Counterpart, Tanner Hackett.

“We are excited to join forces with Counterpart in the small business market. They have built an impressive underwriting platform and program capabilities in a short period of time. We think insurance brokers will greatly appreciate the new product offerings as well as the innovation and efficiency Counterpart is bringing to the private company D&O insurance marketplace.” – Jack Kuhn, President of Westfield Specialty.