For PREXATM—All Risks, Ltd.’s proprietary catastrophic property underwriting unit—the future is looking bright indeed.
The MGU has been on a solid growth trajectory since its reorganization two years ago. With binding authority on behalf of multiple “A” rated capacity providers, PREXA (Property Risk Examiners and Administrators) provides All Risks brokers with exclusive access to designated capacity via a controlled underwriting platform. Products provided are package and monoline, with the ability to write all perils inclusive of wind, earthquake and flood.
Eric Quinn, Vice President, All Risks, Ltd., says, “PREXA has made significant strides over recent years in both product and available capacity due to incredible support for our capital providers and their belief in our shared objectives. This support has allowed for us to deliver premium products to our All Risks brokerage force and, in turn, our valued retail partners.”
In addition to using advanced modeling technology and proprietary capacity management techniques, PREXA staffs underwriters with extensive E&S Property underwriting experience that understand the needs of our brokers and retail partners alike. In a rapidly changing property environment, sound capacity management and highly skilled underwriters translate to shared success with all of PREXA’s stakeholders.
More recently, PREXA has enhanced product offerings to include an exclusive monoline terrorism product. This product, backed by Lloyd’s of London, provides All Risks' producers with an exclusive option to a more robust terrorism coverage. In a time where rising property rates translate to increased terrorism premium when backed by the government-sponsored program (TRIA), a private sector terrorism offering can provide premium savings with more robust coverage/sublimits.
Quinn states, “Our principal focus is to ensure the long-term stability of a viable property facility that is trusted by our retail clients and capacity providers alike – and we are unwavering in this endeavor. We continue to build new products and enhance our capacity offerings to mirror the needs of a rapidly changing market and meet our clients’ expectations.”
He maintains that the long-term view perspective is key. Quinn concludes, “Our success over the recent years has been predicated on this mindset and we will continue to deliver.”
PREXA product features include:
- Major CAT perils: Wind, Quake, Flood
- $150M in scheduled values
- $30M individual binding
- Flood $10M Primary/Excess
- Deductible Buy Down
- Wind, Quake, Flood
- Equipment Breakdown
- Cyber Liability
- Commercial real estate business consisting of:
- Retail stores
- Franchised hotels
- High-end multi-family
- Real estate
For access to PREXA, please contact your preferred All Risks broker to assist with your submission.
PREXA Recent Successes: