Bermuda-based Endurance Specialty Holdings Ltd. announced late last month that it has launched a new U.S. Contract Binding Authority unit to operate within Endurance American Specialty Insurance Company, Endurance's U.S. surplus lines insurer.
This launch marks Endurance's entry into a significant distribution channel with initial access to nearly 150 surplus lines agent offices.
Glenn R. Yanoff, a 30-year veteran of the industry, will lead the new unit. In a prior role, Mr. Yanoff established a contract binding authority unit, MMO Agencies, an operating subsidiary of NYMAGIC, later serving as both president of the subsidiary and executive vice president of NYMAGIC. Prior to joining NYMAGIC, he was an area president of Risk Placement Services Inc., a subsidiary of the Arthur J. Gallagher & Co. insurance brokerage.
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