Falcon Risk launches new PL program for agents and brokers

By Mia MacGregor

Feb 21 - (The Insurer) - NYC-based MGA Falcon Risk Services has launched a new program targeted at insurance agents and brokers and offering professional liability limits of up to $10 million.

Called Soar, the new program “offers a comprehensive coverage framework that sets a new standard for reliability and service”, Falcon said.

The program serves property and casualty agents, wholesale brokers and managing general agents.

Coverage is available on both a primary and excess basis, accommodating businesses with commission volumes of up to $2 billion for primary coverage.

Falcon Risk highlighted several key differentiators of the program, including how the capacity backing the offering comes from a carrier with an A-plus rating from AM Best. Other key benefits include experienced in-house claims expertise and the ability to provide bespoke policy wording.

Soar's launch follows Falcon Risk's January introduction of FalconFlight, a new cyber technology E&O and MPL insurance solution offering up to $10 million in capacity for companies with revenues between $10 million and $3 billion.

Falcon Risk was founded in 2021 by former Argo Pro president Craig Landi. The company, which writes its products on the paper of AM Best A-plus rated HDI Global, provides specialty underwriting and claims solutions for US and multinational corporations.

Since its launch, Falcon Risk has also seen HDI Global Specialty become a majority shareholder in the business.