Spring Insure looks to court brokers in UK professional indemnity launch

The managing general agent aims to become ‘an increasingly attractive prospect’ for brokers’ clients. 

Spring’s London and Dublin offices will support the offering. It is backed by existing capacity providers Ascot and Aspen, as well as new provider Faraday. The newly formed Casper Specialty is also providing capacity for UK risks.

Spring Insure is an increasingly attractive prospect for brokers whose clients require robust, comprehensive PI cover, and we’re proud to now be able to offer this.

Paula McManus

Spring now has £5m primary capacity, focusing on technology, media, marketing and miscellaneous sectors in the UK and Europe, and traditional professions in the UK.

In addition, it has £5m of excess layer capacity depending on the attachment point and risk specifics.

Ireland’s technology sector

The new European offering will focus on Ireland’s thriving technology sector. It includes a technology professional indemnity policy tailored to software providers and developers.

The media PI product will concentrate on marketing, advertising and creative communications firms.

Spring said the latest binder deal builds on its PI for corporate service providers and other non-traditional professions in the UK, Europe and the Channel Islands.

Shane Barry, senior underwriter for Spring Insure Europe, based in the Dublin office, said: “This expansion reflects our ongoing commitment to providing innovative and tailored insurance solutions to meet the evolving needs of businesses in these regions.”

Senior professional indemnity underwriter Paula McManus, based in London, said: “Spring Insure is an increasingly attractive prospect for brokers whose clients require robust, comprehensive PI cover, which stands up to existing and emerging risks, and we’re proud to now be able to offer this.”

A history of Spring

Spring launched in 2020, with a focus on Beazley capacity to target financial institutions. The firm has bought Neon Sapphire and launched new lines such as commercial directors’ and officers’ cover and cyber.

Co-founder Nathan Sewell (pictured above) said he has a fondness for ‘grafters’. 

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