Insurance Business Pen Canada renews commitment to non-profit D&O sector

Pen Canada renews commitment to non-profit D&O sector Pen Underwriting Canada announced that it will continue to support the non-profit D&O sector despite challenging market conditions.

On top of this announcement, the firm also revealed that it is still investing in a purpose-built e-trading platform “to facilitate the growth of [the D&O] line.”

According to a release, Pen Canada’s e-trading platform offers the following benefits:

  • A+ rated capacity
  • Ability to quote, bind & issue policy within five minutes and all online
  • Quote and policy saved within platform for easy download
  • Fully mobile and accessible on the go, requiring only internet access
“Market conditions are tough in not-for-profit D&O and we have seen some of our peers exiting this line,” said Pen Canada underwriting director Glenn Woodard. “However it has always been, and remains, a key class for us and one we are fully committed to, as we have market leading expertise and experience to navigate through the challenges.”

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