Counterpart teams with Westfield Specialty to launch admitted management liability product

Counterpart, an AI-driven management and professional liability insurtech has entered into a new partnership with Westfield Specialty Insurance, to provide an admitted product for Counterpart’s small business customers and, for the first time, nonprofit businesses, through its network of broker partners.

According to the announcement, this new admitted management liability product extends Counterpart’s offerings to for-profit businesses with less than $350 million in revenue or 500 employees, which represents 99% of U.S. businesses, as well as over one million 501(c) organisations.

A key factor to note, this extension will also expand the ways in which brokers can service their clients by using Counterpart’s APIs and risk mitigation services.

It has been confirmed that this new admitted product offering is currently available in 35 states, complementing Counterpart’s existing program offerings in all 50 states.

Tanner Hackett, CEO of Counterpart, commented: “Westfield is one of the most recognized brands in insurance and has been an A rated carrier for almost 90 years, making it an ideal partner to support us on our mission to help reduce risk for all businesses operating in all industries.

“This partnership combines Westfield’s renown history and expertise with Counterpart’s leading software and services to set a new standard of excellence in commercial insurance.” 

Jack Kuhn, President of Westfield Specialty, said: “We are excited to join forces with Counterpart in the small business market. They have built an impressive underwriting platform and program capabilities in a short period of time.  We think insurance brokers will greatly appreciate the new product offerings as well as the innovation and efficiency Counterpart is bringing to the private company D&O insurance marketplace.”