XN launches new Canadian MGA

XN Holdings has launched XN Risk Insurance Services (Canada) Inc., a web-based managing general underwriter. The Toronto-based company will offer management liability insurance for mid-tier, privately-held companies in Canada this includes companies with 250 or fewer employees and less than $50 million in assets. Among its products will be directors’ and officers’ liability, employment practices liability, commercial crime and fiduciary liability on top of D&O or EPL covers, and miscellaneous errors and omissions.
“XN Risk is staking out new territory in the Canadian insurance marketplace,” says XN Holdings CEO Dan Anber. “We’re offering much-needed products to this under-served market segment, and using our proprietary technology platform to assure unequaled servicing.”
The Canadian operation will be headed by Phil Hoyt, who says, “risk is a fact of life in today’s business world. Our offerings provide an affordable, accessible method for smaller, privately-held companies to contain many of the risks that could threaten their business survival.”