Orion
Carrier website links, underwriting access points, mapped product lines, and appetite notes in one place.
This appetite summary is only a guide. Confirm eligibility, submission requirements, restrictions, and binding authority directly with the carrier or underwriter before relying on it.
Carrier appetite summary
Carrier/Platform - Orion Insurance Intermediaries is a wholesale-focused MGA writing Management and Professional Liability, primarily D&O, EPLI, Fiduciary and Crime for public, private, financial services, and not-for-profit entities. Capacity up to $10M for primary or excess placements, supported by Palomar as carrier partner. Orion distributes exclusively through selected wholesale brokers. Preferred / Target Business - Management & Professional Liability for complex or higher‑hazard sectors where many markets are cautious, including: - Bitcoin mining and crypto‑related firms - Blockchain/fintech and software/hi‑tech, including unicorns - Cannabis and hemp/CBD - Casinos and broader gaming - Chemical manufacturing, energy (including oil & gas), and other heavy industry - Healthcare and pharmaceuticals - Retail/hospitality, food & beverage - Semiconductor/electronics, wireless/telecom, and tech‑enabled businesses - Sports and eSports organizations - Will consider publicly traded, privately held, and not‑for‑profit risks; comfortable with complex capitalization, cross‑border operations, and sophisticated buyer profiles. - Demonstrated appetite for hard‑to‑place situations such as de‑SPACs, reverse mergers, uplistings, and foreign SEC filers, as evidenced by recent placements. Hard-to-Place / Specialized Exposures (Actively Targeted, but Underwritten Carefully) - De‑SPAC and SPAC‑related transactions - Direct listings and uplistings - Foreign SEC filers and cross‑listing structures - IPO and pre‑IPO companies - Reverse mergers and complex recapitalizations - Unicorn and high‑valuation private tech - Stand‑alone extended reporting periods (ERP) and ESOP exposures - Mid‑term excess attachments over existing towers Restricted Classes (Heightened Scrutiny / More Selective) - Financial institutions and REITs are specifically called out as restricted, not flat‑declined. Expect tighter underwriting, higher minimum premiums/retentions, limited capacity, and potential structural protections (side‑A only, excess‑only, higher attachment points, etc.). Declined / Typically Not Competitive - No formal published blanket decline list beyond the restricted FI/REIT note. However, appetite is clearly focused on management and professional liability; risks that fall outside D&O/EPLI/Fiduciary/Crime for corporate, financial services, or NFP entities are unlikely to be considered. Geographic Notes - Orion is a U.S.-based MGA (La Jolla, CA) with a nationwide wholesale focus. No specific state prohibitions are listed in the public appetite material; assume U.S. risks as core, with openness to foreign registrants or cross‑border operations when tied to U.S. securities exposure (e.g., foreign SEC filers). Limits / Structure - Capacity up to $10M any one program for D&O, EPLI, and Fiduciary either on a primary basis or excess above existing towers. - Appetite for both primary and excess placements, including mid‑tower or top‑of‑tower layers for more challenging sectors. Submission Requirements & Process (Operational) - Distribution is limited to “dedicated wholesale distribution partners”; retail agents should route business through approved wholesalers. - Submissions should include standard management liability underwriting information: fully completed Orion or market‑standard D&O/EPLI/Fiduciary/Crime applications plus relevant supplementals (public company, private company, NFP, financial institution, etc.); Orion hosts applications and supplementals for different entity types under its "Resources – Applications & Supplementals" section. - Expect the following to be required for most public/large or complex accounts: recent audited financials, interim financials if material changes; latest 10‑K/10‑Q/20‑F where applicable; cap table, details of any SPAC/de‑SPAC, IPO, uplisting, or other capital markets transactions; prior and current D&O/EPLI/Fiduciary/Crime policies, including limits, retentions, pricing, and claims history; governance and risk‑management information (board composition, committees, controls specific to sector, etc.). - Applications and supplementals are downloaded and then submitted via your wholesale broker’s normal submission channel to Orion underwriting (no direct online rating or open broker portal is indicated). Broker / Producer Notes - Orion works exclusively with a "nationwide network of wholesale partners"; retail agents need a relationship with one of those wholesalers to access terms. - Position Orion for risks where other markets are uncomfortable with sector (crypto, cannabis, energy, etc.) or with capital‑markets profile (de‑SPAC, uplisting, foreign filer, unicorn). The appetite and success sheet is explicitly designed as a conversation tool for these more complex accounts. - Palomar is listed as the fronting/supported carrier with strong financials and admitted/E&S capabilities; this may help with insured or lender comfort on paper quality and regulatory footprint. - No explicit minimum premium, target account size, or maximum revenue/market‑cap thresholds are published; underwriters appear willing to structure bespoke solutions for both mid‑market and larger placements where complexity is present. Practical Placement Guidance - Use Orion when you have: (1) higher‑hazard industry or emerging‑risk sectors, (2) complex corporate or securities structures, or (3) prior or potential securities claims that have made other markets cautious. - Approach FI and REIT risks selectively and with strong data/controls narratives given their restricted status. - Expect an underwriting‑led, bespoke process rather than automated quoting; front‑load detailed deal background and governance information to improve turnaround and capacity.