About TRU
Technical Risk Underwriters (TRU) is a specialty underwriter of first-party insurance for Course of Construction (COC) risks. TRU consists of professional engineers and construction specialists with the skill, knowledge and experience to advise on complex exposures. Brokers rely on TRU to provide market-leading service and expertise for aligning policy coverage and customized loss-control programs with each client's unique exposures.
$100 million of Wood Frame Builder's Risk Capacity
On February 2, 2022, TRU, announced it secured $100 million of wood frame builder's risk capacity, effective January 1, 2022. The new capacity complements TRU's already exceptional offering of $150 million of construction builder's risk capacity and $100 million of critical flood, earthquake and/or named windstorm capacity. Though it has been a challenging time to grow, due to capacity constraints and other factors impacting the construction sector, TRU managed to double its capacity from 2019 to 2021. 2022's further increase in capacity solidified TRU as leader in the complex construction risks industry.
TRU CEO Katie Davies commented, "We are thrilled to have secured this new wood frame capacity, which will help fill a growing need in the industry. We are grateful for our carrier relationships and the dedication and efforts of the entire TRU team. We continue to innovate in this sector to provide best in class loss control, security and underwriting acumen for our clients, brokers and carrier partners."
Chris Burns, President of TRU, added, "This groundbreaking achievement is a testament to the skills of our veteran underwriters and forward-thinking loss control team, which has allowed us to further solidify our leadership position in this very challenging class of business."
TRU's Team, Risk & Loss Control Approach and Technology
TRU dedicated its recent increase in capacity to its innovative and experienced underwriting team, pioneering approach to risk mitigation and loss control solutions and use of cutting-edge technology. In just over a decade, TRU has grown to a team of roughly 20 dedicated and knowledgeable experts in the construction risks arena, supporting their growth with top tier talent. To complement its experienced underwriters, TRU recently expanded its loss control team, now including three fire protection engineers and two dedicated security specialists, which is unique in the builder's risk industry.
TRU prides itself on forward thinking. Instead of following typical industry standards that call for reaction when losses occur, TRU takes a proactive approach to risk mitigation and loss control, known throughout the industry as "The TRU Standard." By performing frequent and diligent project site inspections, distributing and training each construction team on the use of thermal imaging cameras, and enforcing minimum performance requirements for surveillance systems, TRU helps mitigate potential incidents. In addition, its use of innovative technology has firmly placed TRU at the forefront of providing risk-transfer mechanisms to the construction sector. The TRU Vision Platform, for example, is an in-house, custom-built qualitative and quantitative system, providing underwriters with widespread datapoints and risk visualization. This system allows TRU's experienced, veteran team of underwriters to make confident and informed underwriting decisions.
TRU continues to focus on its team, growth, innovation and leveraging technology into 2022 and beyond.
Technical Risk Underwriters is a series of RSG Underwriting Managers, LLC, a Delaware limited liability company based in Illinois. RSG Underwriting Managers, LLC, is a subsidiary of Ryan Specialty Group, LLC (RSG). Technical Risk Underwriters works directly with brokers, agents and insurance carriers, and as such does not solicit insurance from the public. Some products may only be available in certain states, and some products may only be available from surplus lines insurers. In California: RSG Insurance Services, LLC (License #0E50879). ©2022 Ryan Specialty Group, LLC (NYSE: RYAN) ryansg.com
