CAC Specialty’s Contingent Risk Group Awarded Business Insurance Innovation Award
Jun 15, 2023
DENVER (June 15, 2023) — Business Insurance honored CAC Specialty’s Contingent Risk Group with the 2023 Insurance Innovation award for CAC’s forward-thinking Intellectual Property Portfolio Insurance solution. The awards program, which is in its 14th year, recognizes innovation in products and services provided to professional risk managers.
CAC’s Intellectual Property Portfolio Insurance solution, developed by Andrew Mutter, David Barnes, Megan O’Hara Easley and Shai Silverman, is a collaboration with carriers to establish an insurance structure that ensures the cashflow value of high-quality IP portfolios for a negotiated term of years. This enables lenders to offer lower-cost loans supported by the policy, unlocking more capital to the benefit of patent holders and innovators.
“This distinction showcases our established position as a thought leader and front-line innovator in the Contingent Risk Insurance space,” said Andrew Mutter, Co-Head of Contingent Risk at CAC Specialty. “CAC’s Intellectual Property Portfolio Insurance helps owners of high-value IP assets better leverage these assets to bring forward capital for further investment in such things as research and development, M&A, and operations expense.”
“This is an innovation that supports further innovation,” said David Barnes, who co-leads the group with Mutter. “Our product rewards high-quality intellectual property by lowering the cost of capital, encouraging the development of even more high-quality innovations.”
With over 70 nominations from which Business Insurance named 12 winners, those awarded an Innovation Award scored highly in a very competitive field. Profiles of the winners will be featured in the September issue of Business Insurance and recognized at the U.S. Insurance Awards on July 19 in New York.
About CAC Specialty
CAC Specialty is an integrated specialty insurance brokerage focused on providing expertise and placement capabilities across the spectrum of insurance and capital markets. CAC is an employee-controlled company focused on providing the best talent in the industry to serve its clients’ risk transfer needs. We serve a variety of clients, including large corporations, small and medium-sized enterprises, private equity sponsors and portfolio companies, and fund managers.