Great American Insurance Acquires AUSCO Business

Great American Insurance Group’s executive liability division and AUSCO, a division of Aon Corp. subsidiary Financial & Professional Risk Solutions Inc., have a long history together. AUSCO has been providing management liability solutions for non-profit organizations since 1981. Since 2005, AUSCO and Great American’s Executive Liability Division have been partnering in this arena, with AUSCO acting as a managing general underwriter for Great American’s executive liability division in selected industries.

Now Great American Insurance Group’s executive liability division acquired the non-profit and employment practices liability book of business from AUSCO. “We have enjoyed a fruitful partnership over the past four years and we value the relationship that AUSCO has maintained with its clients over that time period,” says Jane Kornesczuk, chief underwriting officer at Great American’s executive liability division. “We are excited about the opportunity to have direct involvement in the business we are acquiring. The AUSCO book is a great addition to our existing and already substantial non-profit and employment practices footprint in the market. The transition should be seamless for our insureds.”