New Product Combines D&O, EPL, Fiduciary and Crime Coverages for Private Companies and Not-for-Profit Organizations into a Single Form
Boston (Jan. 17, 2024) – Liberty Mutual today announced ProShield, a packaged solution providing private companies and non-profits streamlined access to Directors & Officers, Employment Practices Liability, Fiduciary and Crime coverages, and the appointment of Brent Tan as Senior Director, Financial Lines Underwriting.
“ProShield provides private companies and non-profits - and the brokers who support them - faster access to a more robust set of coverages needed to effectively address the complex Management Liability risks they face,” said Liberty Mutual Global Risk Solutions President, Financial Lines, Paul Larson. “The new packaged solution eliminates the need for over 30 endorsements by blending coverages into a single policy form available to both wholesale and retail brokers.”
In addition to the new product, Liberty Mutual appointed Tan to the newly created product line manager role. He will focus on financial lines product development, ensuring Liberty Mutual is a market leader in that segment. He will also work closely with underwriters to set strategy, develop internal and external training, and implement service enhancements for trading partners. Prior to his appointment, Tan was Senior Vice President of CNA Specialty’s products and underwriting service organization. Before joining CNA, Tan spent 15 years in Chubb Specialty’s Financial Lines organization in various underwriting roles.
Both developments are the latest examples of Liberty Mutual’s commitment to Financial Lines. Last February, it appointed Larson to drive the continued profitability and growth of Professional Liability, Management Liability, Cyber and other Financial Lines solutions.
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About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people and businesses embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the fifth largest global property and casualty insurer based on 2022 gross written premium. We also rank 86 on the Fortune 100 list of largest corporations in the US based on 2022 revenue. As of December 31, 2022, we had $50 billion in annual consolidated revenue.
We employ over 50,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
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