Ascendex Underwriters Launches Management Liability Practice for Private Companies

Led by Management Liability veteran John Passaro, Ascendex offers Directors & Officers, Employment Practices, Fiduciary, and Crime coverage exclusively through wholesale distribution, on a primary and excess basis nationwide.

NEW YORK, NY – November 5, 2026 – Ascendex Underwriters today announced the launch of its Management Liability practice for privately held companies, available only through wholesale distribution in all 50 states. The practice provides primary and excess coverage on a standalone and shared-limit basis for Directors and Officers, Employment Practices, Fiduciary, and Crime. The program will be written by ISMIE Indemnity Company which is a wholly owned subsidiary of ISMIE Mutual Insurance Company, rated (A-) Excellent and Financial Size Category X by AM Best, with policy effective dates as of December 1, 2026.

John Passaro, EVP, Head of Management Liability, brings more than 35 years of experience in Management and Professional Liability underwriting and distribution to Ascendex. He is based in the New York City area and is joined by Shane Dantuono, based in Dallas.

“I’m excited to bring Ascendex’s Management Liability offering to the market,” said John Passaro. “We want our broker partners to know they’ll get thoughtful underwriting, clear answers, and a team that’s committed to finding solutions.”

Practice Highlights:

• Private companies with up to $1 billion in assets or revenue or up to 1,000 employees
• D&O, EPL, Fiduciary, and Crime, written on a standalone or shared limit basis
• Limits from $1 million to $5 million in the aggregate
• Primary and Excess offerings (crime is primary basis only)
• Standalone EPL available
• Available Nationwide in all 50 states
• Distributed exclusively through wholesale brokers

“When we launched Ascendex, we said Management Liability would be one of our first lines, and we wanted it led by an underwriter the wholesale market already trusts,” said Kevin Rehnberg, Co-Founder and CEO. “John has an excellent track record underwriting this business, Ascendex has a capacity partner in ISMIE who is committed to the line and a platform designed around how it should be underwritten.”

“We have been seeking the best partner to expand our portfolio to Management Liability for several years and are excited to partner with Ascendex Underwriters for this purpose. The Ascendex management team has profound underwriting expertise both from the carrier and MGA desks. They have ample resources, a strong distribution network and a proven program management discipline. We look forward to getting underway with Ascendex” said Steven Schafer, Vice President, Product Diversification, ISMIE Mutual Insurance Company.

Wholesale brokers can submit business at mlsubmit@ascendexuw.com

About Ascendex Underwriters

Ascendex Underwriters is a specialty MGU serving the commercial specialty market and builds its underwriting technology to the specification of each program and how underwriters evaluate risk, creating a customized underwriting model that is more efficient and enhanced.

About ISMIE

ISMIE Indemnity is a wholly owned subsidiary of the ISMIE Mutual Insurance Company, which was founded in Chicago, Illinois in 1976. ISMIE is a leading policyholder-owned insurer focused on providing outstanding products and services. ISMIE is proud to meet the changing needs of physicians and healthcare professionals as well as non-medical professionals such as accountants, attorneys, insurance agents and brokers, artisan contractors – and now select industries seeking management liability insurance.

Media Contacts: Marissa Buckley, Marissa.Buckley@ascendexuw.com, 386-405-1617 or Aaron Franco, AaronFranco@ismie.com, 312-580-6450