FOR IMMEDIATE RELEASE
[JERICHO, NY, SEPTEMBER 12, 2022] – Professional Risk Facilities (“PRF”) and Vault Commercial (“Vault”) today announced a partnership (the “Program”) whereby PRF, acting as a managing general agent (“MGA”), will be underwriting management and professional liability insurance coverages on behalf of Vault E&S Insurance Company for directors & officers liability (D&O), employment practices liability (EPLI), fiduciary liability and errors & omissions (E&O) risks. The Program is designed for companies with annual revenues up to $500MM for management liability coverage and revenues up to $50MM for a wide variety of E&O risks. The Program will offer primary limits up to $2MM and excess limits up to $5MM.
“We are thrilled to partner with Vault to allow PRF to use our knowledge and expertise in the management and professional liability marketplace to provide thoughtful underwriting for E&S risks in this space. We believe that with Vault’s support, PRF will be able to offer creative insurance solutions for risks in the non-standard market,” said Christopher Cavallaro, Executive Chairman of PRF.
“We’re very pleased to collaborate with PRF, with whom we have had a professional relationship spanning decades. This new offering will combine our management and professional liability expertise with those of PRF and we are excited about the possibilities that can be created,” commented Scott Carmilani, Executive Chairman of Vault.
About PRF:
PRF is a Managing General Agency with underwriting authority including quoting, binding and policy issuance for a wide array of financial products. Founded in 1992, PRF specializes in the underwriting of management and professional liability insurance products. PRF is known for providing quality products, skillful underwriting coupled with extremely quick service.
About Vault:
Vault provides commercial insurance for corporate customers, supporting both MGAs and individual risks. Vault offers specialty underwriting expertise, state-of-the-art technology and a commitment to best-in-class service to its customers and their insurance advisors.
Media Contacts:
Professional Risk Facilities
Stephen Cavallaro
516.408.5736
Vault Commercial
James Enelow
917.297.0500
www.vault.insurance/commercial
