Emerald Bay Launches Co-Op and Condo Casualty Program with Vanderbilt Properties

Underwriting carrier Emerald Bay Risk Solutions announced a partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group comprising a large portfolio of high-end residential and commercial real estate properties as its members, to launch its inaugural casualty program.

The new program, with reinsurance led by a leading carrier with an A++ rating, will provide capacity for an excess liability facility for high-end co-op and condominium buildings in New York City and other selective major metropolitan areas.

“Emerald Bay’s collaborative model and tailored approach to underwriting was a crucial factor in our decision to create this partnership,” said David Rosen, president and chief executive officer of Vanderbilt. Riosen said Emerald Bay is retaining a “meaningful risk position in the program” and collaborated with Vanderbilt on the development of cloud-based, data-driven technology infrastructure to modernize its operations.

“Our ability to collaborate goes beyond underwriting to also include bespoke technology solutions that support the modernization of our partners’ businesses,” said John Lucking, chief technology officer at Emerald Bay.

Emerald Bay launched in March 2024 with backing from Bain Capital Insurance to deliver tailored insurance programs and partnerships with managing general agents and leading reinsurance partners.