Counterpart Adds General Liability Coverage to Bolster Miscellaneous Professional Liability Offering

Business Wire

The new line simplifies the process for both brokers and their clients to get coverage for their most complex exposures

LOS ANGELES--(BUSINESS WIRE)--
Counterpart, a leading management and professional liability insurtech, today announced the addition of General Liability (GL) insurance to its Miscellaneous Professional Liability (MPL) product line. This new offering provides small businesses access to expanded coverage through Counterpart’s trusted network of wholesale broker partners. Backed by A rated carrier Aspen, Counterpart’s GL offering provides tailored insurance solutions for small and medium-sized businesses.

Counterpart’s GL product features ISO-based wording and offers limits of up to $1M occurrence / $2M aggregate including Products and Completed Operations, with separate limits for both Professional Liability (PL) and General Liability (GL). This additional coverage helps small businesses protect themselves from claims related to bodily injury and property damage stemming from their products, services, or operations.

“General Liability is a critical coverage for small business owners and has been the most demanded addition to our PL product line from our brokers,” says Mike Muglia, Professional Liability Insurance Lead at Counterpart. “The ability to package GL with MPL simplifies the process for brokers and provides insureds with the advantage of having one carrier handle claims for both lines.”

The addition of General Liability (GL) adds to Counterpart's expanding portfolio of insurance solutions for small businesses and strengthens its partnership with Aspen. This launch furthers Counterpart’s broker-driven product expansion, which began earlier this year with the introduction of admitted and not-for-profit management liability offerings. By continuing to develop customized solutions, Counterpart remains committed to empowering brokers with tailored products that meet the evolving needs of their clients.

“We’re a big supporter of Counterpart and value their data-driven approach to underwriting. We’re excited to back them as they expand their MPL offerings through innovative and cutting-edge solutions,” says Matt Price, Senior Vice President, Professional Liability at Aspen.

Counterpart, a leading insurtech, combines top insurance expertise with industry-leading underwriting and claims technology to help minimize risks for small businesses. Small business owners can obtain Counterpart’s robust management, professional, and general liability coverages through its network of over 2,000 trusted wholesale brokers nationwide.

Learn more about Counterpart’s products and services by visiting yourcounterpart.com.

About Counterpart

Counterpart pairs trusted insurance experts with AI-driven underwriting and claims technology to enable small businesses to do more with less risk. Backed by A rated carriers such as Aspen, Markel, and Westfield Specialty^®, Counterpart offers proprietary management and professional liability insurance. These products are complemented by a suite of tools and services that help its customers proactively reduce risk and grow with confidence. Counterpart has been recognized as the "Underwriting Innovation of the Year" in 2023 by Inside P&C, "Best Places to Work" in 2024 by Business Insurance, and "Top 50 Insurtech" in 2024 by CB Insights. For more information, visit yourcounterpart.com.

About Aspen Insurance Holdings Limited

Aspen provides insurance and reinsurance coverage to clients in various domestic and global markets through wholly-owned operating subsidiaries in Bermuda, the United States and the United Kingdom, as well as its branch operations in Canada, Singapore and Switzerland. For the year ended December 31, 2023, Aspen reported $15.2 billion in total assets, $7.8 billion in gross loss reserves, $2.9 billion in total shareholders’ equity and $4.0 billion in gross written premiums. Aspen's operating subsidiaries have been assigned a rating of “A-” by Standard & Poor’s Financial Services LLC and an “A” (“Excellent”) by A.M. Best Company Inc. For more information about Aspen, please visit www.aspen.co.