Fri Sep 20 12:44:04 UTC 2024: ## New SME Insurance Provider ProRISE Launches, Backed by Ambac and Lloyd’s Syndicate

**Charlotte, NC** – proRISE Insurance Services, a new specialist in management and professional liability insurance for small and medium-sized enterprises (SMEs), officially launched on October 1st. The company is a joint venture between Beat Capital Partners, a London-based insurance incubator, and industry veteran Doug Karpp, former executive at Hiscox and AIG.

proRISE is backed by A+ rated capacity from a consortium led by Beat Syndicate 4242 at Lloyd’s. This allows them to offer a comprehensive range of products tailored to the specific needs of professionals and businesses.

The company’s offerings include:

* Private directors and officers liability
* Non-profit directors and officers liability
* Employment practices liability
* Fiduciary liability
* Crime insurance
* Professional liability insurance for various professionals, including architects, engineers, and allied health professionals

“I am incredibly excited to launch proRISE,” stated Doug Karpp, President and CEO of proRISE. “With backing and support from Beat, I am confident proRISE will become the go-to solution for the SME executive and professional lines market.”

John Cavanagh, Chairman of Beat, commented, “We are thrilled to introduce proRISE to the market… We think proRISE’s focused approach on SMEs will fill a gap in the market by providing bespoke, service-oriented insurance solutions.”

The launch of proRISE aligns with Ambac Financial Group, Inc.’s (NYSE: AMBC) organic growth strategy. Claude LeBlanc, President and CEO of Ambac, stated, “The launch of proRISE illustrates why we were so excited to bring Beat into the Ambac family.”

proRISE’s focus on providing tailored and accessible insurance solutions is expected to make a significant impact in the SME market. The company is poised to become a leading provider of specialized insurance for professionals and businesses navigating today’s complex landscape.

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