Press Releases
Industry Veteran Joseph A. Valenza Launches Virtue Risk Partners, LLC. A New Underwriting Agency, and Teams Up With Scottsdale Insurance Company to Offer Commercial Package and Environmental Products
Joseph A. Valenza, a 20-year veteran with underwriting, consulting and risk management experience, is pleased to announce the formation of his new company, Virtue Risk Partners, a managing general underwriter, and the formation of a new relationship with Scottsdale Insurance Company. Scottsdale is rated A+ (Superior), FSC XV by A.M. Best, owned by Nationwide Mutual Insurance Co. (Nationwide). Under its agreement with Scottsdale, Virtue Risk Partners will serve as a program administrator with $15MM in underwriting capacity.
Virtue Risk Partners will offer commercial package products, including Commercial General Liability, Professional, Excess, Environmental, Commercial Auto, and Storage Tank Compliance coverages. Virtue Risk Partners will target consultants, engineers, contractors and environmental risks at scheduled properties and operate through wholesale agents across the country, serving insureds in all 50 states on a surplus lines basis.
“We are very excited to be doing business with someone with the qualifications that Virtue Risk Partners brings to the relationship,” said John Goodloe, Senior Vice President, Brokerage at Scottsdale Insurance Company. “They bring a wealth of knowledge and experience, and Scottsdale is looking forward to offering these product lines.”
“Virtue could not be more thrilled to launch our underwriting platform with such a marquee brand name like Scottsdale behind us. We are just as eager to build a qualified team of underwriting and risk management professionals to collaborate and develop custom risk solutions with our business partners, to protect commercial and industrial clients from the evolving risks among us,” said Joseph A. Valenza, President of Virtue Risk Partners.
About Virtue Risk
Virtue Risk Partners, LLC, is a New York domiciled company launched in April, 2014 as a provider of custom commercial underwriting solutions with recognized underwriting and risk management experience and a proven track record of operating excellence.
About Scottsdale Insurance Company
A wholly owned subsidiary of Nationwide® Mutual Insurance Company, Scottsdale Insurance Company® (www.scottsdaleins.com) benefits from the backing of one of the largest insurance and financial service providers in the United States, an A.M. Best Rating of A+ (Superior), FSC XV and a Standard & Poor’s “A” rating. As part of an industry leader with financial strength and stability, Scottsdale Insurance Company provides its customers with exceptional experiences.
The original press release date: May 14, 2014. New York, NY.
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Virtue Risk Partners Teams Up With Partner Re Insurance Solutions Bermuda Ltd. to Offer Casualty Package Product to Specialty Contractors and Consultants
Stamford, CT and New York, NY – June 1, 2023 – Virtue Risk is proud to announce the launch of a new program for middle market specialty contractors and consultants, with contingent environmental exposures, who will benefit from a general liability package policy. This program is written in partnership with AM Best, A+ (Superior) rated PartnerRe Insurance Solutions Bermuda Ltd. The program consists of a packaged general liability with Pollution Liability, Professional Liability and Excess coverages as is necessary. The new program will be led by Joshua Rubin, General Liability Underwriting Director at Virtue Risk.
“We are thrilled to be working with PartnerRe to offer this new product called the “Virtue Pledge” Product, to our wholesale distribution network,” said Joseph Valenza, Virtue Risk. “– PartnerRe’s financial strength and long-term commitment will allow us to continue to provide our clients with only the best-in-class products and top-notch service.”
“We’re excited to partner with Virtue Risk Partners,” said Joel Livingston, Head of Insurance Programs at PartnerRe. “They’re an expert in their niche and have a track record of establishing profitable lines of business for other carriers.”
The new program is designed to meet the evolving needs of contractors and consultants in the middle market. The packaged liability policy will provide clients with comprehensive coverage at an affordable price.
For more information or to request comment, please contact Joshua Rubin at jrubin@virtuerisk.com.
About Virtue Risk
Virtue Risk is a leading insurance wholesaler specializing in providing insurance solutions for middle market contractors and consultants.
About PartnerRe
PartnerRe Insurance Solutions Bermuda Ltd. is a wholly owned subsidiary of PartnerRe Ltd., a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through the Company’s three segments: P&C, Specialty, and Life and Health. For the year ended December 31, 2022, total revenues were $5.7 billion, total assets were $27.3 billion, total capital was $8.1 billion and total shareholders’ equity was $6.3 billion. PartnerRe maintains strong financial strength ratings as follows: A.M. Best A+ / Moody’s A1 / Standard & Poor’s A+, www.partnerre.com. Media inquiries – elizabeth.deacon@partnerre.com
Release date: June 1, 2023
