Max Specialty Insurance Licensed in California
Max Specialty Insurance Company , an excess and surplus lines company headquartered in Richmond, has added California to the list of states where it can write surplus lines business, bringing the total to 47.
"The addition of California … is a further step toward our goal of establishing Max Specialty as a leading U.S.-based excess and surplus lines company," said CEO Stephen J. Vaccaro Jr . in a press release . "Excess and surplus lines" refers to specialized lines of insurance, typically in niche markets, where the brokers have significant experience and expertise.
Max Specialty, the excess and surplus lines platform of Bermuda-based Max Capital Group Ltd ., operates across three divisions: Brokerage, Contract Binding and Marine, offering property, ocean and inland marine, casualty, excess liability and umbrella insurance products.
Earlier this month, the company announced the purchase of Commercial Casualty Insurance Company, an insurance entity licensed to write business in all 50 states plus the District of Columbia. With that acquisition, Max Specialty's undwriting team gained the ability to write both "admitted" and "non admitted" business.
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