Magnolia Grove Insurance Services LLC, a managing general underwriter offering environmental liability limits up to $11 million, launched on Tuesday.
Backed by London-based Beat Capital Partners Ltd., the Charlotte, North Carolina-based MGU is led by Justin Crawford, former environmental underwriting manager for Dual Commercial LLC. It will issue policies backed by Trean Insurance Group Inc., a recently established excess and surplus lines insurer, a Magnolia Grove statement said.
The MGU will offer contractors pollution coverage, site pollution, products pollution, commercial general liability, professional liability and excess liability, the statement said.
Magnolia Grove offers coverage in 40 states and plans to expand to 50, a spokeswoman said in an email.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.