Exclusive: RB Jones Innovates unveils excess commercial auto liability program

May 22 - (The Insurer) - RB Jones Innovates has unveiled its first offering with the launch of an excess commercial auto liability program targeted specifically at the marine market.

Called Ocean, RB Jones Innovates said the program combines a strong data-driven approach and sophisticated underwriting.

Capacity for the new offering is provided by AM Best A rated Atain Insurance Companies, which is in turn backed by a panel of reinsurers.

Both RB Jones Innovates and Atain are subsidiaries of Farmington Hills, Michigan-based HW Kaufman Financial Group.

To begin with, the newly launched program is designed to offer up to $1 million of standalone excess liability capacity on an E&S basis.

The $1 million of limit has the flexibility to attach directly above primary commercial auto liability policies or higher up depending on the individual risk.

RB Jones Innovates’ new program is targeted at clients including marine assureds that have vehicle exposures involved in marinas, contracting, shipyards, terminals, ferry or passenger vessel operations, commercial vessel operations and other marine services.

Talking to Program Manager, Tim Crowe, a director at RB Jones, said commercial auto exposures within marine portfolios “have been a market headache for decades”.

“Auto liability in marine umbrellas and marine excess towers has been a problem for as long as I can remember,” said Crowe.

“It’s always kind of lived there begrudgingly. It’s not a normal fit. Obviously marine underwriters who are writing the excess are more focused on the marine exposures, and auto was thought of as a secondary exposure.

“But with the environment that we find ourselves in litigation-wise, auto should be fully focused on,” Crowe stated.

The new Ocean product is the result of what Crowe described as “the perfect marriage” of market need and RB Jones’ deep marine market expertise with the MGU knowing who the key brokers, distributors and best operators are.

As Crowe explained, RB Jones Innovates has launched the program because it believes this marine excess commercial auto business can be written profitably on a standalone basis.

“It also improves RB Jones’ offerings overall; it's a cohesive, natural addition to what we do,” said Crowe.

Ocean is the first program brought to market by RB Jones’ nascent RB Jones Innovates platform which launched after Crowe’s arrival in January 2024.

Crowe moved to RB Jones from AI specialist Eigen Technology where he spent the previous two years as director of insurance solutions, while his career also includes a stint at Canopius Group where he served as senior vice president of marine underwriting.

As previously reported, RB Jones Innovates is focused on crafting innovative insurance solutions that address product and coverage gaps in the marketplace. It uses technology like AI and machine learning to craft novel insurance solutions.

Ocean is the first program launched by RB Jones Innovates, and work is underway on developing additional offerings that similarly harness RB Jones’ existing knowledge base.

As Crowe explained, RB Jones Innovates takes a different approach to developing new solutions to many of the technology-focused insurance platforms currently out in the market where “it’s more top-down, with the innovation unit dictating”.

“This is all underwriter-driven,” he said. “First, what does the market need from a product perspective? And two, with that need, what’s the best way to create that product to improve service to brokers and clients?” explained Crowe.

RB Jones Innovates “is essentially almost an MGU within an MGU”, said Crowe.

While Crowe was tight-lipped about future products that RB Jones Innovates is working on, he said the new Ocean program provides plenty of optionality.

Ocean in its current form “is an excess, buffer-type offering”, said Crowe, “so there’s the ability to expand that limit and we’re in active negotiations with some leading reinsurers to get the limit bigger”.

“But then also obviously there are primary opportunities, there are other niche auto opportunities, and then just casualty writ large.

“The nice thing about when you launch products that are infused with data: some lines lend to that more than others,” Crowe said.

Looking ahead to what products might be next in line, Crowe said they must meet certain criteria.

Firstly, there has to be a major market need where RB Jones Innovates believes it can grow profitably. Secondly, it must be a product that Atain or one of RB Jones Innovates’ other partners will want to support and provide capacity.

Thirdly, the product must make an impact, and the fourth is the coverage, something that RB Jones Innovates can differentiate itself in from a technology or data standpoint.

“There are certain lines where there's more data available that we think can impact the underwriting, or service, or both,” said Crowe.