Ascendex launches management liability practice for private companies

Ascendex Underwriters has launched a management liability practice for privately held companies, with coverage available nationwide through wholesale brokers starting Dec. 1, 2026. The new program targets private businesses and pairs Ascendex’s distribution with capacity from ISMIE Indemnity Company.

Why it matters: - The launch gives wholesale brokers a new national option for management liability coverage aimed at private companies. - The program expands access to Directors and Officers, Employment Practices, Fiduciary and Crime protection in a market segment that often needs tailored primary and excess coverage. - ISMIE Indemnity Company will write the program, adding rated carrier capacity behind the offering.

What happened: - Ascendex Underwriters announced a new Management Liability practice for privately held companies. - The program is available only through wholesale distribution in all 50 states. - Policy effective dates begin Dec. 1, 2026. - John Passaro, EVP and head of management liability, will lead the practice. - Shane Dantuono joins the team and is based in Dallas. - Wholesale brokers can submit business at mlsubmit@ascendexuw.com.

The details: - The practice offers primary and excess coverage on a standalone and shared-limit basis. - Coverage includes Directors and Officers, Employment Practices, Fiduciary and Crime. - Crime coverage is available on a primary basis only. - Standalone EPL coverage is available. - Limits range from $1 million to $5 million in the aggregate. - Eligible private companies include businesses with up to $1 billion in assets or revenue, or up to 1,000 employees. - The program will be written by ISMIE Indemnity Company, a wholly owned subsidiary of ISMIE Mutual Insurance Company. - ISMIE Mutual Insurance Company carries an A- Excellent rating and Financial Size Category X from AM Best.

Between the lines: - Ascendex is using a wholesale-only model to position the new practice squarely in the broker channel. - The company is leaning on Passaro’s 35-plus years of management and professional liability experience to establish credibility quickly. - Kevin Rehnberg said management liability was intended to be one of Ascendex’s first lines and that the company wanted the practice led by an underwriter trusted by the wholesale market. - Steven Schafer said ISMIE saw Ascendex as a strong partner because of its underwriting expertise, distribution network and program management discipline.

What's next: - Ascendex will begin writing business under the new program on Dec. 1, 2026. - Wholesale brokers can start placing submissions now ahead of the effective date. - The company is signaling that management liability is a core growth line for its platform.

The bottom line: - Ascendex is entering the private-company management liability market with a wholesale-only program, rated carrier backing and a national distribution footprint.