Denver, CO – June 16, 2025 – Parsyl Inc., a data-powered insurer of complex supply chains, today announced the launch of its new admitted marine cargo insurance product with industry-leading $55 million in capacity across the U.S. Set to begin July 1, 2025, this expansion marks a significant milestone in Parsyl's mission to transform the marine cargo insurance landscape.
The new admitted product combines the accessibility of admitted markets with Parsyl's proven data-driven marine underwriting expertise. Parsyl will directly serve retail brokers and larger risks in the U.S. market, complementing its existing Excess & Surplus (E&S) lines offerings while bringing specialized products like comprehensive stock throughput solutions to U.S. insurance professionals.
"Our new admitted product represents a major advancement in how marine cargo insurance is delivered to the U.S. market," said Ben Hubbard, Parsyl CEO. "With capacity up to five times greater than typical competitors, we're removing barriers for retail brokers while providing the superior protection and service that Parsyl is known for."
Initially available in 38 states, Parsyl will expand the admitted product nationwide in the coming weeks, reflecting the company's commitment to comprehensive U.S. market coverage.
While Parsyl will continue to grow and invest in its E&S offerings, the introduction of Parsyl's admitted product addresses longstanding challenges in the U.S. marine cargo insurance market. E&S placements have traditionally required additional taxes, fees and administrative steps, including declinations from admitted carriers before accessing E&S markets.
Parsyl is an insurer of complex supply chain risks that uses enhanced data and technology to understand, price and mitigate risk. Parsyl offers its customers more tailored underwriting and insights-based risk management that reduces waste and saves money. Parsyl leads the Essential Consortium at Lloyd’s of London, is a Lloyd’s Coverholder, and operates Syndicate 1796, the first mission-driven syndicate at Lloyd’s. Parsyl offers a full suite of A-rated cargo insurance solutions, including Cargo and Stock Throughput, Stock and Excess Stock, Shipper’s Interest, Cargo Legal Liability and Warehouse Legal Liability. Parsyl is based in Denver, CO with offices in London, England and New York, NY and can be found at parsyl.com.