What's Happening?
Pivix Specialty Insurance Services Inc. has launched a new brokerage division focused on larger and complex casualty risks, led by Michael Gramm as Senior Vice President and Chief Underwriting Officer. This expansion aims to enhance Pivix's market presence by offering excess-and-surplus insurance solutions through wholesale channels. Gramm, with extensive experience in casualty underwriting, will oversee the development of brokered accounts, building on Pivix's existing contract binding program.
Why It's Important?
The establishment of Pivix's brokerage division represents a strategic move to capture a larger share of the excess-and-surplus insurance market. By targeting complex casualty risks, Pivix can diversify its offerings and strengthen its competitive position. This expansion reflects broader industry trends towards specialization and innovation in insurance services, potentially benefiting brokers and clients seeking tailored solutions.
