FMI Launches Vertical Insurance, PIC, with CNA to Deliver Innovative Captive Insurance Solution
FMI Corporation, a leading provider of consulting and investment banking firm services to the built environment, announced today the launch of its first group captive insurance program, Vertical Insurance, PIC, with CNA Financial Corporation (NYSE: CNA), one of the nation’s largest commercial property and casualty insurers, serving as front and reinsurance carrier.
The new captive solution is designed to provide clients in general contracting, construction management and related professional services with a customized alternative risk financing strategy. Vertical Insurance enhances control over insurance costs, improves coverage flexibility and promotes long-term stability in risk management programs. The offering will focus on casualty insurance lines, including workers’ compensation, general liability and auto.
Vertical Insurance blends FMI’s deep industry expertise and risk management insights with CNA’s construction-focused underwriting strength and national scale. Built for the unique and evolving exposures contractors face, the program gives members access to shared risk strategies, tailored coverage options and potential profit-sharing opportunities that are not typically available through traditional insurance arrangements.
“Contractors today are facing increasing pressure from market volatility, rising premiums and ever-evolving risks,” said David Madison, head of Vertical Insurance at FMI. “Vertical Insurance gives our clients a more strategic and transparent approach to managing risk, one that aligns insurance performance with operational excellence and long-term financial outcomes.”
“CNA and FMI share a commitment to supporting the construction industry with insight and specialized solutions that address the evolving risks contractors face,” said Mark Wilke, Head of Construction Captives at CNA. “With more than 70 years serving the construction industry, CNA is proud to deliver specialized underwriting, risk control and claims expertise that helps the industry navigate complex risks through innovative collaborations, like the Vertical Insurance captive solution.”
This initiative builds on the success of FMI’s existing captive platform FMI Insurance Limited.
About FMI Corporation
FMI is a leading provider of consulting and investment banking services to the built environment, delivering expertise in strategy, leadership and organizational development, operational performance, mergers and acquisitions, financial advisory and private equity.
About CNA
CNA is one of the largest U.S. commercial property and casualty insurance companies. Backed by more than 125 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe. For more information, please visit CNA at cna.com.
Disclaimer:
Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice.
“CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities.