Texas’ Upland Capital Group Launches Excess Transportation Liability Program
Newly launched specialty lines insurer, Dallas-based Upland Capital Group (Upland), has added an Excess Transportation Liability (XTL) specialty insurance offering targeting fleet sizes up to 250 revenue producing vehicles.
Upland will be writing the program in all 50 states on non-admitted paper, rated A-VIII by AM Best. The limits for consideration are up to $5 million (targeting $1 million and $2 million excess limits) and there are no excess attachment point restrictions.
All claims will be handled by a dedicated in-house team led by industry professionals with deep knowledge of the excess transportation market and ties to the company’s leadership.
Established in 2020, Upland announced its launch in January 2021. It is funded through an equity investment of up to $200 million from Newlight Partners LP (Newlight), a growth equity investor, and an additional investment from the company’s executive management team.
The executive team includes: Chairman, President and Chief Executive Officer Todd C. Hart; James A. Damonte, president of Insurance Operations and chief underwriting officer; Mark J. Morrison, executive vice president and chief financial officer; and Pamela Byron-Button, senior vice president and chief administrative officer.
Upland offers a diversified portfolio of excess and surplus lines (E&S) casualty, property, and specialty insurance products, with an initial focus on excess casualty products distributed through select wholesale brokers.
Recently added team members at Upland include:
- Senior Underwriter Krysia Alt, who joins the Upland team after having served as commercial underwriter at Core Programs and was previously an underwriter at Hallmark Financial Services.
- Vice President Andrew (Drew) Stock, who was most recently a vice president at Scion Underwriting Managers and spent significant time as a senior underwriter at Hallmark E&S.
- Vice President Mark Grossberg, who will be assisting in the business development for the group and has worked with Damonte for more than 10 years.
Source: Upland Capital Group