American Safety Insurance Offers ART Solutions

American Safety Insurance announced that the company is now offering ART Solutions, a product for risk retention groups, captives and small insurance companies who can benefit from access to ASI’s A.M. Best “A” rated paper.

Ideal ART Solutions candidates have expertise in underwriting a specific class of general liability, professional liability, excess or property business and seek to grow through increased capacity or access to A.M. Best “A” rated paper. Many of these entities have lower ratings as a result of their capital structure which is not reflective of their underwriting profitability within their market of expertise. As a result, their ability to sell a product is negatively impacted as agents and brokers place their business with higher-rated carriers.

“Response from the market has been extremely positive regarding this product,” said Brad Isaacson, director of Program Business at American Safety Insurance. “ART Solutions provides “A” rated paper on a risk participation or pure front basis. We see this strategy as mutually beneficial for ASI and our ART Solutions partners, who have very detailed industry expertise. Our partners gain access to “A” rated paper which is becoming more valuable as smaller companies see increased pressure from larger competitors in a soft market.”

Through approved reinsurance intermediaries, ART Solutions clients can also access traditional and structured reinsurance available from American Safety Reinsurance Ltd., a Bermuda-based reinsurance carrier, to provide capital relief.

To further develop relationships with key reinsurance intermediaries and brokers, Richard Wigmore has joined the ASI team as National Business Development Manager for ASI’s U.S. Alternative Risk Transfer Division.

Wigmore has more than 20 years of experience designing, developing and implementing a wide range of ART products, including captives and rent-a-captives, for both individual and group accounts. Prior to joining ASI, he held marketing and sales positions with Commonwealth Risk Services, Liberty Mutual Alternative Markets and AIG.

For additional information on ART Solutions or American Safety Insurance, contact Wigmore at (800) 388-3647 or rwigmore@amsafety.com or visit www.amsafety.com.