Hudson Insurance Group's new subcontractor default insurance ("SDI") business unit has commenced underwriting under the direction of Wallace Moreman, senior vice president.

"Subcontractor default risk represents another highly specialized market where Hudson can make a difference by offering much needed underwriting expertise to meet the growing needs of larger, sophisticated general contractors," said Christopher Gallagher, Hudson's president and chief executive officer. "As we celebrate Hudson's 100th anniversary, the launch of our new SDI business is an exciting and timely development that demonstrates our continued commitment to providing niche products that meet the unique needs of our clients."

In a statement, Hudson said that its support of general contractors extended back more than 10 years, to when it began offering contract surety bonds. Hudson's existing surety business represents five percent of its 2017 gross premiums written of $1.1 billion.

Hudson's SDI product is specifically designed for general contractors whose annual revenue exceeds $50 million. Limits of $30 million per occurrence and $60 million aggregate are available.

Hudson is headquartered in New York City with offices throughout the United States and in Vancouver, Canada.