Market Update: We break down the business implications, market impact, and expert insights related to Market Update: MGA Rokstone launches division focused on digital economy risks – Full Analysis.
London-based Rokstone said Monday it has launched a division focused on underwriting digital economy risks and hired two senior casualty experts to lead the unit.
Rokstone Velocity will target liability exposures arising from autonomous and electric vehicles, advanced mobility operators, sharing economy platforms and other technology-enabled business models. Operations will start in the U.S., with international expansion planned.
Andrew Cooper was named head of the unit. Mr. Cooper previously was managing director, innovation and technology at Pantheon, a U.K.-based specialty broker. Before that, he held senior leadership and broking roles at Aon.
Matt Higgins was appointed senior underwriter. Mr. Higgins previously was underwriter at Apollo’s iBott platform.
The division will offer embedded insurance programs, usage-based and telematics-enabled auto liability coverage, casualty facilities for mobility operators and sharing economy businesses, platform liability frameworks and customized wordings for auto liability, general liability, umbrella and hybrid lines.
Capacity is backed by Lloyd’s of London and an A-rated insurer, allowing Rokstone Velocity to operate as a lead or follow market.