Navitas Assurance Partners Announces Collaboration with Crum & Forster
and Great American Insurance Company to Deliver Trade Credit Insurance Capacity to the Energy Market
New capacity to provide alternative assurance products to meet pent-up demand within North America
HOUSTON–(BUSINESS WIRE)–#AlternativeAssurance—Navitas Assurance Partners, a specialty managing general underwriter, has entered into a relationship with Crum & Forster’s Credit Division and Great American Insurance Company’s FCIA Trade Credit & Political Risk Division to provide highly rated trade credit insurance capacity to the North American energy markets. The collaboration will leverage each company’s financial strength and specialty focus on the energy sector to meet pent-up demand for alternative assurance products.
“The Navitas team has been integral to the inception, acceptance, and growth of the alternative assurance market,” said Jay Rose, Founder and Managing Director, Navitas Assurance Partners. “New capacity now available through our affiliation with strongly rated insurance carriers reflects our collective commitment to provide liquidity to the energy industry, offering clients a new level of certainty in the North American market.”
The energy industry’s use of alternative assurance instruments, such as trade credit insurance and commercial surety coverage, has grown dramatically over the past decade. The commercial transportation, trading, processing, and distribution sectors currently face pressing challenges to meet the assurance requirements necessary to support operational goals, protect the balance sheet, and expand credit thresholds. The new capacity will provide much-needed liquidity to address the growing demand.
“We recognized a void in the energy assurance market in terms of both new, stable capacity and a disciplined approach to underwriting for the energy markets,” explained Daniel L. Sussman, President of Crum & Forster Credit Division. “This new relationship leverages the financial strength and proven market recognition of each company, building an integrated platform to serve the energy market.”
“FCIA is pleased to support Navitas Assurance Partners in their pursuit of underwriting credit insurance programs tailored to meet the ever-growing needs of the energy market,” said Mike Mulvey, FCIA Divisional President. “FCIA’s decades of credit insurance underwriting, together with the knowledge and skills of Navitas, will create a solid ground to expand the use of credit insurance in the energy market.”
About Navitas Assurance Partners
Navitas Assurance Partners is a managing general underwriter (MGU) representing some of the strongest balance sheets in North America. Created for an evolving market and tapping into more than 100 years of operational development and risk management experience from the energy and insurance industries, Navitas is built for today’s changing marketplace. Navitas acts as the leading conduit among the energy markets, their broker-partners, and carrier-partners—specializing in the energy assurance markets and offering a new approach that brings additional capacity, unrivaled speed, and exceptional broker support. To learn more, visit www.navitasassurance.com or contact us via info@navitasassurance.com.
About Crum & Forster
Crum & Forster (www.cfins.com) is a leading national property, casualty, accident & health insurer, providing specialty insurance products through its admitted and surplus lines insurance companies.
Founded in 1822, C&F is one of the oldest U.S. insurance companies, and today conducts business through a network of independent agents, brokers and wholesalers. C&F had $3.7 billion in gross written premium in 2021 and is rated “A” (Excellent) by A.M. Best.
The C&F logo, C&F and Crum & Forster are registered trademarks of United States Fire Insurance Company. To learn more, follow us on LinkedIn, Twitter and Instagram.
About Great American Insurance Company / FCIA
FCIA is a division of Great American Insurance Group with over 60 years of experience in writing Trade Credit Insurance. Great American Insurance Group’s history dates back to 1872 with the founding of its flagship company, Great American Insurance Company. Rated A+ by S&P (affirmed March 8, 2022), Great American Insurance Company provides the strength and expertise that help businesses manage financial risk with insurance products that meet their specific and ever-changing financial risk exposures. Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and in Washington, DC, headquartered at 301 E. Fourth St., Cincinnati, OH 45202.
Contacts
Patrick McKinnon
Navitas Assurance Partners
(832) 606-9319
Pat.McKinnon@navitasassurance.com
