Author Archive

(March 28, 2024) – Today, RB Jones announced the launch of a new Cannabis In-Transit offering. The product, backed by Atain, an ‘A’ rated insurance company, will deliver coverage for both facility owners and third-party transportation companies.

“The Cannabis sector remains challenging given the varying regulatory conditions nationwide, coupled with numerous gaps and exclusions from existing insurance products,” said Mark Engel, Senior Vice President and Managing Director, RB Jones. “The RB Jones Cannabis In-Transit solution fills an immediate need for an industry that is severely underinsured.”

The product provides for a broad appetite that includes all cannabis, hemp and CBD products. Target classes span the entire supply chain, from growers, cultivators and hemp/CBD manufacturers to distributors and dispensaries.

“Today there is no other offering for those in the Cannabis industry as comprehensive as our In-Transit solution,” added Engel. “We have the expertise within the RB Jones Life Sciences portfolio to assist clients in navigating the Cannabis risk complexities and provide improved protection for their insureds.”

Click here for a full overview of Cannabis solutions available, including Commercial General Liability, Property and Products Liability.

(February 7, 2023) – RB Jones launches new “Innovates” division to leverage AI and machine learning. This new division utilizes advanced technology capabilities, including AI and machine learning, to build breakthrough insurance solutions. Tim Crowe joins the company as Director of RB Jones Innovates, based out of the RB Jones office in Manhattan.

“Tim brings a wealth of experience in underwriting, analytics and technology. We look forward to utilizing his experience to build new products and optimize our underwriting capabilities,” said Mark Engel, Senior Vice President & Managing Director, RB Jones. “Given Kaufman’s existing and substantial investments in technology, we see a tremendous opportunity to deploy AI and other applications that will improve our already strong results and attract like-minded partners.”

With more than a decade of industry experience, Crowe most recently served as Director of Insurance Solutions at Eigen Technologies. Previously he was Senior Vice President of Underwriting at Canopius Group. He holds a bachelor’s degree in economics from Rutgers University and a master’s degree in business analytics and finance from the Stern School of Business at NYU.

“This was a very unique opportunity to join a forward-looking company that is committed to embracing what is realistically possible with technology today,” added Crowe. “I was attracted to Kaufman’s independence and family ownership, coupled with its desire to utilize RB Jones as a true growth engine.” RB Jones Innovates will partner with sister company Atain Insurance Companies, an “A” rated (Excellent IX by AM Best) insurance carrier, along with other tech-forward insurance companies and vendors, to develop and launch new offerings that directly address product and coverage gaps in the marketplace.

January 19, 2024 – We are excited to announce that RB Jones is adding a Cannabis solution to our expansive offerings of specialty products. The addition will enable RB Jones to engage a broader client base as part of our ongoing effort to build a distinct life sciences portfolio.

RB Jones now offers liability and property coverage solutions for the Cannabis industry, plus a broader appetite that includes Hemp and CBD. We can also provide package coverage for cultivators through medical and recreational dispensaries.

Targets:

• Cannabis Dispensaries

• Cannabis Cultivators

• Hemp/CBD Market

Features & Benefits

Please click here to find an overview of the product, along with a full list of features, benefits and target classes.

January 9, 2024 – Following the successful rollout of the RB Jones Professional products, including Miscellaneous Professional Liability and ProConstruct (A&E), we are proud to announce the expansion of our product suite with Allied Healthcare. This exclusive product, written on A-rated paper, offers unique enhancements designed to address emerging risks in the delivery of healthcare services.
 
Our product provides tailored professional liability coverage for a wide range of allied healthcare and social service professionals, including home healthcare and healthcare staffing.

Technology Based Products and Services

The healthcare industry continues to embrace digitization with ever-increasing use of technology to deliver healthcare services and connected products to monitor patients.

Pollution Liability

Professionals in healthcare face pollution exposures such as indoor air quality concerns from mold and fungi that could impact patients’ breathing, along with illicit abandonment and improper disposal of medical wastes.

Sexual Misconduct Allegations

Provides a designated limit to protect an insured from allegations of unwelcome conduct, contact, physical acts, physical abuse, gestures, images, emoji, spoken, written, or communicated words of a sexual nature, including allegations of 3rd party misconduct.

Features & Benefits

Please click here to find an overview of the product, along with a full list of features, benefits and target classes.

August 12, 2023 – As we advance into the second half of the year, the property insurance market remains challenging. Rates are increasing across the board – it is typical to see 10-20% increase for non-CAT exposed risks, while those that are located in CAT-prone areas, or which have suffered losses are seeing more than 25% rate increases.

Insurance companies remain focused on adequate valuations, seeking year-over-year improvements that are aligned with inflation to offer appropriate replacement cost coverage. When valuations remain stagnant, insurance companies may place coverage restrictions on the account, including actual cash value or coinsurance provisions.

From a capacity standpoint, insurance companies are restricting capacity on individual risks, which is resulting in accounts needing to be written within shared and layered placements. This is especially prevalent in high CAT areas.

Many carriers are re-underwriting their risk portfolios away from more hazardous occupancies and pushing more placements into the non-admitted space.

Additionally, several carriers have restricted EQ capacity. In high-risk areas such as California, the Pacific Northwest and New Madrid, EQ coverage rates are increasing significantly and require multiple carriers to participate and purchase expiring limits.

We are also seeing trends where many insureds are purchasing lower limits than in previous years because the rates are so high, and the cost associated with lower layers. There may also not be enough capacity in the marketplace to complete those program placements.

Given the ongoing complexities within the property market, RB Jones Property is continuing to assist clients in navigating these challenges. The company has exclusive and dedicated capacity that is not available anywhere in the market. Importantly, RB Jones is also consistently recognized for its creativity in delivering unique underwriting solutions.

August 8, 2023 – The marine insurance market today continues to operate among growing risk complexities and opportunities.

Those opportunities can range from the traditional marine risks to the innovative offshore wind projects currently being built around the country. In November 2021, the Bipartisan Infrastructure Deal secured funding to upgrade the country’s infrastructure as well as invest in green energy resources. As a result, marine contractors have benefited greatly. Among the numerous examples are a $12.6 million grant to add a berth at Port Tampa Bay and nearly $4 billion in funding for the U.S. Army Corps of Engineers to make navigation improvements at coastal ports and inland waters.

Many marine operators are also stepping into the offshore wind arena, from building terminals to address the specific needs of this developing industry, to performing maintenance on the operating wind farms to building vessels that fulfill the needs of operating the wind farms.

The complexity of these opportunities comes into play for many marine contractors nearly overwhelmed with work while still facing a labor shortage. Hiring practices need to be enhanced as well as the increased need to find qualified employees. And with increased prices in nearly every sector, should a claim occur, increased prices of steel and other goods have caused premiums to increase too. The new offshore wind projects bring exposures that are relatively new and yet somehow old, with many contractors often relying on European counterparts that have experience from wind farms built in the North Sea.

The environment requires an expert approach to navigate these issues. Tracy Markowski, Director of the Marine Hull & Liability at RB Jones, has built an underwriting strategy to guide insurance agents while delivering results on which carrier partners have come to rely.

June 27, 2023 –Today’s construction industry is faced with numerous challenges given ongoing supply chain issues, inflationary concerns and labor shortages. The result is a complex environment where contractors are often taking on additional responsibilities and facing new risk exposures that traditional policies exclude.

The RB Jones Professional team developed and launched ProConstruct, an exclusive program providing Professional Liability coverage to a broad range of professionals within the construction lifecycle, filling coverage gaps often excluded by General Liability and Professional Liability policies.

The ProConstruct policy includes updated language to address a number of emerging issues:

• Increased legal liability for contractors for negligence resulting from the management of a project, including managerial oversight, constructability reviews, subcontractor selection and scheduling. ProConstruct includes language specific to managerial oversight, subcontractor selection and constructability review, adding to the definition of professional services while removing the licensing requirement. Broader language enables ProConstruct to address coverage gaps because these services are typically excluded within the general liability policy and were not previously considered part of a contactor’s responsibilities.

• Greater use of and integration with technology across construction projects, from design and installation of “smart” HVAC systems to robust data centers, has resulted in expanded policy language to include coverage for technology services and products, as well as network security as part of a contractor’s professional services.

• Need to preserve the relationship between the contractor and the project owner requires language that provides for rectification expense coverage and protection for claims that allege faulty workmanship from negligent managerial oversight. Both coverages are vital for the contractor as it ultimately keeps projects on time and avoids cost overruns, which are two of the most common causes of loss.

• Growth in use of less-experienced subcontractors due to labor shortages and inflationary pressures has led to project delays, extended project delivery times and worker safety concerns. A contractor protective indemnity clause provides dedicated excess limits over subcontractor policies. This helps prevent “claim creep” from uncovered claims eroding the contractor’s professional liability limits. A protective also forces quicker settlements from subcontracted staff and ensures projects remain on track.

At RB Jones, our team is committed to providing best-in-class, industry-leading solutions leveraging deep underwriting expertise and long-standing carrier relationships.

NEW YORK (February 23, 2023) – RB Jones, a leading Managing General Underwriter providing specialty risk coverage solutions for brokers, agents and wholesalers, today announced it had secured additional capacity from Atain Insurance Companies, an “A” rated (Excellent IX by AM Best) insurance carrier. The additional capacity enables RB Jones to expand its Primary Marine and Excess Marine & Energy Liability business.

“Today’s insurance marketplace conditions remain challenging with capacity constraints particularly in the marine and energy sector – this expanded capacity signals our intention to grow this sector of our business,” said Mark Engel, Managing Director. RB Jones Marine & Energy. “Our team is equipped with the expertise to provide the highly specialized solutions our clients require and now we have the added resources to match increased demand.”

Currently, RB Jones works closely with Atain on an exclusive Ocean Marine Cargo program. Collaboration between the two companies will result in the continued development of new products and coverage solutions.

“Atain’s relationship with RB Jones is built on trust and consistently strong results,” said Chris Zoidis, President & CEO, Atain Insurance Companies. “We appreciate the sophisticated underwriting capabilities that RB Jones has developed and believe they have the right team in place to manage the increased Marine & Energy risk complexities that we continue to see in the marketplace.”

RB Jones is coming off a strong 2022, delivering 40 percent growth in a single year. That success can be attributed to a number of areas, including:

• Launching New Solar and Ocean Cargo Programs: RB Jones Marine & Energy introduced an exclusive Solar underwriting facility and acquired an Ocean Cargo solution that uses sensor data collection and advanced analytics to provide better pricing and enhanced coverage.

• Expanding Property & Professsional Liability Capabilities:

  • Global Excess Partners, an H.W. Kaufman Group company, was rebranded as RB Jones Property to create a more streamlined offering that delivers industry-leading products and services for Large Property and Middle Market accounts.

• RB Jones Professional launched with its flagship product ProConstruct, an exclusive program that provides Professional Liability coverage to a broad range of professionals within the construction lifecycle.

About RB Jones

Founded in 1905, RB Jones is a leading Managing General Underwriter providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.

RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. More information can be found at www.hwkaufman.com.

About Atain Insurance Companies

Atain is an admitted and non-admitted property and casualty insurance company dedicated to serving niche programs and excess & surplus (E&S) markets. Licensed in 50 states, Atain underwrites numerous lines of business including professional liability, general liability and commercial multi-peril risks.  A.M. Best affirmed Atain with an “A” (Excellent) Financial Strength Rating.

Atain is a member of H.W. Kaufman Group, which has over 60 offices

Farmington Hills, Mich. (November 8, 2022) – RB Jones, a leading Managing General Underwriter in specialty risk coverage solutions for brokers, agents and wholesalers, today announced the launch of its new professional liability division, RB Jones Professional.

RB Jones Professional will be led by Michael Muglia, who previously served as Burns & Wilcox National Underwriting Director, Professional Liability. In addition to Muglia, Tameka Livatino, Amber Browning, and Jonathan Lucken have also joined RB Jones. With the new title of Director, Muglia now reports to Mark Engel, Managing Director, RB Jones.

The team will immediately launch several programs including their flagship product ProConstruct, an exclusive program that provides professional liability coverage to a broad range of professionals within the construction lifecycle. Further expansion of professional products is planned for the coming months.

“We expect these programs to thrive by pairing Mike’s team of experienced underwriting specialists with the sophisticated underwriting systems currently in place at RB Jones,” said Engel. “Additionally, RB Jones distribution allows access to a wide range of business and will continue our track record of producing strong underwriting profit and long-term program success for brokers and clients.”

“We remain bullish on the opportunity for RB Jones to serve as a distinct destination for highly specialized capabilities and operate as a major growth driver for H.W. Kaufman Group,” said Jodie Kaufman Davis, Executive Vice President, H.W. Kaufman Group, parent company to RB Jones. “In 2022 alone, we rebranded Global Excess Partners to RB Jones Property, acquired the Smart Cargo portfolio from Corvus, and added highly technical energy and solar product solutions to further enhance the capabilities of RB Jones.”

To learn more, or become appointed with RB Jones Professional, visit rbjonesinsurance.com or find the company on LinkedIn.

About RB Jones

Founded in 1905, RB Jones is a leading Managing General Underwriter providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.

RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. More information can be found at www.hwkaufman.com.

October 11, 2022 –RB Jones, a leading Managing General Underwriter in specialty risk coverage solutions for brokers, agents, and wholesalers, today announced its new, exclusive Solar Commercial Insurance Program (SCIP). 

Over the past decade, the solar energy market has experienced an average annual growth rate of 33 percent, according to the Solar Energy Industries Association. Declining costs, tax incentives and expanded storage capabilities have contributed to this increase in demand and usage.

“Partnering with a company that has renewable expertise for Commercial Solar opportunities allows RB Jones to support owners and operators of small to mid-sized commercial operations, such as schools, parking structures and boutique hotels,” said Brad Nehring, Director of Energy, RB Jones. “This clean energy solution also provides much-needed coverage options for developers, independent power producers and small utility companies.”

Coverage is offered at each stage of the renewable energy lifecycle, from site preparation and transportation, to installation, operation and decommission. Energy coverage options within the program include utility ground mount, rooftop commercial, community solar, carports, and Battery Energy Storage Systems (BESS) that are ancillary to a solar project. It can be tailored to individual projects as well as large scale portfolios and can be offered as a package or a standalone product. The coverage limits are up to $10 million for property and up to $5 million for umbrella.

“We continue to explore growth opportunities that further establish RB Jones’ capabilities and reputation as a preferred partner, especially those that bring relevant, impactful solutions,” said Mark Engel, Managing Director, RB Jones. “By pursuing this exclusive Commercial Solar program, we are able to underwrite and add another much-needed product to our growing portfolio of specialty insurance solutions.”