CONSHOHOCKEN, PA — Specialty insurance provider Novacore has expanded its professional liability portfolio through the addition of Euclid Design Underwriters to its Professional Underwriters Agency (PUA) program, strengthening its presence in the architects and engineers insurance market.
The transaction adds specialized underwriting expertise in errors and omissions coverage for architects, engineers and design professionals, a niche segment of the professional liability insurance sector that requires industry-specific risk assessment and underwriting capabilities.
Financial terms of the transaction were not disclosed.
Novacore said Euclid Design Underwriters will be integrated into PUA, broadening the program’s offerings and expanding access to professional liability coverage for design firms nationwide. The addition also brings Euclid Design’s broker relationships and underwriting team into Novacore’s platform.
The move reflects continued consolidation across specialty insurance markets, where firms are seeking scale, underwriting expertise and expanded distribution networks to compete in increasingly specialized risk categories.
“Professional liability remains a core area of strategic focus for Novacore, and the addition of Euclid Design further strengthens our expertise in serving design professionals,” Chief Executive Officer Aaron Miller said. He described the transaction as part of the company’s strategy to invest in established specialty insurance programs and expand underwriting capabilities.
Euclid Design Underwriters has focused on errors and omissions coverage for architects, engineers and related design professionals, providing insurance products that protect firms against claims stemming from professional services and project-related liabilities.
Nick Colis, Chief Program Officer of Euclid Program Managers, said Novacore’s platform would support the continued growth of the business while maintaining its underwriting focus and broker relationships.
The acquisition expands PUA’s suite of professional liability products and increases Novacore’s presence in a segment where underwriting expertise and long-term carrier partnerships are key competitive differentiators.
Novacore said the combined operation will provide agents and insureds with broader market access and expanded professional liability solutions backed by specialized underwriting resources.
MarshBerry served as exclusive financial advisor to Euclid Design Underwriters on the transaction.
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