Balavant Insurance Group has launched Sentric Specialty, a new program manager (PA) aimed at providing specialized insurance solutions for emerging and niche risks.
The new business, led by CEO Florian Beerli, will focus on areas including manufacturing, crisis management and professional liability.
Sentric’s first product development in manufacturing defect protection is designed to address what it described as a long-standing coverage gap.
The offering expands traditional product recall triggers by adding manufacturer errors and omissions as an additional trigger.
California-based Balavant said the debut product is the first in a planned sequence of innovations aimed at responding to changing risk needs.
Balavant Insurance Group CEO Rekha Skantharaja said: “Sentric Specialty enters the market with a clear point of view and a solution that advances specialty insurance.
“Its approach to protecting manufacturing defects sets the tone for future innovations.
Balavant is committed to building category-leading PAs and we are excited to support Florian and his team.”
Beerli previously worked as head of US specialties and programs at Beazley, responsible for a portfolio spanning the US, Canada and Asia.
As part of the launch, Sentric acquired the renewal rights to Beazley’s product recall book of business, which Balavant said provides immediate scale and continuity.
The platform will be supported by Hudson Insurance Group, an Odyssey Group company, which will provide its role.
Hudson Insurance Group Executive Vice President Trevor Howard said, “We believe Sentric Specialty launches with a compelling combination of proven underwriting leadership and an established recall platform. Florian’s track record speaks for itself and we are proud to partner with him and the Balavant team.”
Balavant positioned the launch of Sentric as part of a broader strategy to build a next-generation general agent management platform.
Since its formation, Balavant has expanded to include Tangram Insurance Services, TIMBY Specialty, Preferred Reinsurance Intermediaries and now Sentric.
“Balavant Launches Sentric Specialty Program Manager for Niche Risks” was originally created and published by Life Insurance International, a brand owned by GlobalData.
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