6 Atlantic Specialty Insurance Milestones That Reshaped the Industry

Atlantic Specialty Insurance Company has been a trailblazer in the insurance industry for over 100 years. Throughout its long history, the company has achieved numerous milestones that have had a significant impact on the way insurance is underwritten and distributed today.

1926: First Specialty Insurance Policy

Atlantic Specialty Insurance Company issued its first specialty insurance policy in 1926, providing coverage for a unique and complex risk that was not adequately addressed by standard insurance policies. This marked the beginning of the company's focus on providing specialized insurance solutions for businesses and individuals with complex insurance needs.

1951: First International Insurance Office

Atlantic Specialty Insurance Company opened its first international office in London in 1951, becoming one of the first American insurance companies to establish a presence overseas. This move allowed the company to expand its reach and offer its specialized insurance solutions to a global clientele.

1976: First Excess and Surplus Lines Insurance Policy

In 1976, Atlantic Specialty Insurance Company issued its first excess and surplus lines (E&S) insurance policy. E&S insurance provides coverage for risks that are not covered by standard insurance policies, or for limits that exceed those offered by standard policies. This move enabled the company to offer more comprehensive insurance solutions to its customers.

1995: First Professional Liability Insurance Policy

Atlantic Specialty Insurance Company introduced its first professional liability insurance policy in 1995, providing coverage for professionals against claims of negligence or errors and omissions. This policy was designed to protect professionals from financial losses resulting from claims related to their professional services.

2001: First Cyber Liability Insurance Policy

In 2001, Atlantic Specialty Insurance Company launched its first cyber liability insurance policy, providing coverage for businesses against the risks associated with cyber attacks and data breaches. This policy was one of the first of its kind, and it has since become an essential insurance solution for businesses of all sizes.

2019: First Parametric Insurance Policy

Atlantic Specialty Insurance Company introduced its first parametric insurance policy in 2019, providing coverage for businesses against the financial impact of natural disasters or other events. Parametric insurance policies are based on pre-defined parameters, such as the intensity of an earthquake or the amount of rainfall, and they pay out a fixed amount of money when those parameters are met.

Atlantic Specialty Insurance Company: A History of Innovation

Atlantic Specialty Insurance Company's history is marked by a series of milestones that have reshaped the insurance industry. The company has consistently been at the forefront of innovation, providing specialized insurance solutions for businesses and individuals with complex insurance needs. Today, Atlantic Specialty Insurance Company is a leading provider of specialty, E&S, professional liability, cyber liability, and parametric insurance solutions.