UPLAND CAPITAL GROUP LAUNCHES NEW EXCESS LIABILITY PROGRAM FOR PUBLIC ENTITIES
The leaders at Upland Capital Group are not letting any grass grow under their feet as they announce the launch of the company’s Excess Liability for Public Entities specialty insurance offering. The new product joins the company’s Excess Transportation Liability (XTL) line that came out in February, and will cover entities such as counties, municipalities, school districts, higher education systems, and public utilities, among others.
Upland will write the program in all 50 states on non-admitted paper, rated A-VIII by AM Best. The minimum attachment point is $5 million (targeting up to $2 million excess limits).
Industry pro Richard Wilson will act as Senior Vice President, Casualty, and lead the in-house team of knowledgeable professionals. As is the case with Upland’s other important early hires, Wilson has previous ties to the company’s leadership. He was most recently Senior Vice President – Excess Public Entity at Scion Underwriting and previously served as Senior Vice President, National Practice Leader at Hallmark Financial Services.
“Richard is well-respected in the public entity insurance industry so he’s the perfect person to lead this new offering at Upland Capital Group,” said Upland’s President of Insurance Operations and Chief Underwriting Officer James A. Damonte. “Even better, I have personally worked closely with him over the years. I’ve seen him in action and have always been impressed with his professionalism and productivity.”
“Our aim is to grow Upland Capital Group purposefully and begin by focusing on people and product with which we’ve had previous successful relationships,” added Upland Capital Group’s Chairman, President, and Chief Executive Officer Todd Hart. “I have the utmost confidence that Richard’s vision aligns with the rest of the leadership team.”
The new product is expected to be available in mid-May 2021. AM Best recently assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-“ to Upland Specialty Insurance Co., the non-operating holding company of Upland Capital Group Inc.
About Upland Capital Group
Upland Capital Group is an E&S casualty, property, and specialty insurance provider that was founded in 2020. Based in Dallas, Texas, Upland Capital is focused on becoming the most nimble, disciplined and profitable specialty insurer by building a great company where “we entrepreneurs” can master their underwriting craft. Upland Capital is funded with over a $200 million of equity line by Newlight Partners and executive management.