New York — NYMAGIC INC., New York, acquired a book of professional liability insurance covering insurance agents, brokers and related professionals. The company purchased this book of business through its subsidiary, Mutual Marine Office Inc. (MMO) from West Berlin, N.J.-based Excel Underwriters Alliance Inc., effective March 1, 2008.
For more than 10 years, Excel has specialized in underwriting errors and omissions insurance policies for insurance brokers, agents and other related professionals. Excel was formed by David Wash, who has more than 15 years experience in this segment of professional liability insurance. Wash has been producing profitable business on behalf of MMO for more than six years.
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