Falcon Risk Services, an MGA owned by HDI Global Specialty, has launched SOAR, a standalone professional liability insurance policy tailored for insurance agents and brokers. The company says SOAR is designed to address the unique risks faced by industry professionals, including P&C agents, wholesale brokers, and MGAs. The policy offers both primary and excess coverage options, accommodating businesses with commission volumes up to US$2 billion for primary coverage. Policyholders can access limits of up to US$10 million, providing extensive financial protection. The firm highlights that key features of SOAR include an ‘A+’ rating by AM Best, experienced in-house claims expertise, and the ability to quickly craft bespoke policy wording. Edward Perrine, senior vice president and head of Professional Liability at Falcon Risk Services, states: "In a rapidly evolving industry, SOAR is designed to meet the specialised needs of insurance professionals. "Its tailored policy language and financial backing make it a game-changer in professional liability coverage."
