October 9, 2025
Plaisance Underwriters, a managing general underwriter (MGU) providing specialized liability coverage for large institutions, launches today with Sexual Abuse and Molestation (SAM) coverage products for large institutions and their vendors. The new coverages are backed by certain underwriters at Lloyd’s with A+ rated paper.
Plaisance Underwriters’ SAM vendor coverage is designed to protect institutions and their vendors. Available in all 50 states, the policy offers $250,000 to $1,000,000 limits per vendor.
The policy fills a frequent gap in coverage for large institutions: SAM coverage for third-party vendors and vendors’ employees. Plaisance Underwriters’ offering includes vendors as additional insureds attached to the policy.
Part of the MISSION portfolio of programs, Plaisance Underwriters was founded by Caroline Murray, a 25-year veteran of the insurance industry with expertise in SAM, EPLI, and cybersecurity coverage.
“Any institution that allows third-party vendors on-site may be exposed to a SAM claim. A growing awareness of this is resulting in an increase in demand for SAM insurance and risk management resources. Institutions require third-party vendors to have this coverage, but the standalone SAM policies are typically too expensive for small vendors,” said Murray, CEO of Plaisance Underwriters. “We look forward to working with carriers, brokers and institutions to help fill these market gaps and provide the risk management needed to mitigate these serious risks.”
Plaisance’s initial offering includes standalone SAM coverage. Plaisance Underwriter’s policy is dynamic, meeting regularly with its insureds to evaluate incoming vendors and personnel and to reassess and update policies. The team utilizes Understudy, an AI program designed to help perform background checks on vendors and other relevant personnel, as a risk prevention practice.
