Ryan Specialty forms MGU for complex construction, habitational real estate

Ryan Specialty announced Wednesday that it has formed Clach Casualty Underwriters, a managing general underwriter offering primary and excess casualty coverage for complex construction and habitational real estate risks.

The MGU provides monoline coverage, including general liability for New York contractors and owners, with primary limits of $10 million/$10 million/$10 million; general liability-only wraps, with primary limits of $10 million; and general liability coverage for habitational real estate with up to $1 million per occurrence and a general aggregate limit of up to $2 million.

Adam Schnell was appointed executive vice president of the MGU. Mr. Schnell was previously executive vice president of specialty casualty at Ryan Specialty Underwriting Managers, its specialty underwriting division.

Clach Casualty will “meet the needs of niche market segments that often face difficulties in securing adequate coverage,” Ryan Specialty Underwriting Managers President Eric Quinn said in a statement.

The MGU is part of the Ryan Specialty Underwriting Managers division. Business is distributed exclusively through wholesale brokers.