At-Bay vs The Baldwin Group

At-Bay offers cyber, technology E&O and miscellaneous professional liability, with coverage described as underwritten by non-admitted insurers. At-Bay Insurance Services LLC is its disclosed property-and-casualty agency and surplus-lines broker. ^1,5Company-reported. US brand and disclosed producer; company statements, not regulatory verification.

The 2025 Form 10-K describes The Baldwin Insurance Group, Inc. as an insurance distribution firm and holding-company parent and sole managing member of The Baldwin Insurance Group Holdings, LLC. That filing uses “Baldwin” for the Inc. parent and its consolidated subsidiaries and affiliates. The January 1, 2026 transparency disclosure defines “The Baldwin Group” as Holdings LLC and its affiliated entities; the September 14, 2026 investor release uses “The Baldwin Group” as the brand for the Inc. parent and affiliates. These source-specific group descriptions do not identify the licensed producer or insurer for a particular policy. ^14,15,22Company-reported. The Baldwin Group's consolidated US and international corporate group as described in its 2025 filing; not a claim that the parent company is the licensed producer, managing general agent, or insurer for any particular policy.

On September 14, 2026, The Baldwin Insurance Group, Inc. entered a merger agreement with The Baldwin Insurance Group Holdings, LLC (“OpCo LLC”), Square Acquisition Parent, Inc. (“Parent”), Square Acquisition Merger Sub I, Inc. (“Merger Sub”), and Square Acquisition Merger Sub II, LLC (“LLC Merger Sub”). The SEC filing says Parent is wholly owned by Sequence AI Holdings, Inc. DFO Management, LLC and affiliated investment entities committed equity financing to Parent; DFO is not identified as Parent’s owner. Subject to the agreement’s conditions, LLC Merger Sub will merge into OpCo LLC and OpCo LLC survives; Merger Sub will merge into the Company, which survives as a wholly owned subsidiary of Parent. The agreement separately calls for OpCo LLC to form Seller LLC, which forms Seller Intermediate and Seller Merger Sub; after the initial mergers, Seller Merger Sub will merge into OpCo LLC. Seller Merger Sub is distinct from Square Acquisition Merger Sub II, LLC. The filing also says that Holders, as defined in the Stockholders Agreement, of a majority of the Class B shares held by those Holders executed a written consent; approval by holders of at least a majority of outstanding voting shares remained a closing condition. On September 28, 2026, Baldwin’s site still carried the go-private announcement and its release forecast a Q1 2027 close; these sources do not establish a completed acquisition. ^24,25,22,23Company-reported. The signed control transaction as named and described in the September 14, 2026 SEC Form 8-K and merger agreement; status retained as pending on the packet review date, September 28, 2026. DFO is identified as an equity financier to Parent, not as Parent’s owner in the reviewed filing.

Baldwin’s License page has a “Legal Entity | CA License Number” table listing six entities and their California numbers. The page does not identify license class or current status, or map an entry to a particular product, policy, or placement. ³⁸Company-reported. Baldwin’s own California-number disclosure, accessed September 29, 2026; license class, current status and placement-specific authority are not stated.

Technology companies can compare one Tech E&O product for professional and cyber exposures, including coding errors, failed implementations and customer contractual indemnity; service-credit damages remain subject to policy terms. ²Company-reported. Product highlights, not an issued policy or universal contract coverage.

At-Bay’s cyber policy may address business interruption, system failure, extortion, privacy liability and financial fraud such as social engineering or invoice manipulation; your quote and policy set the actual limits and conditions. ³Company-reported. Current cyber product offering; components are not separate catalogue products.

Businesses needing miscellaneous professional liability can ask At-Bay about primary coverage with limits up to $5 million and a tailored definition of professional services; state restrictions apply, and the product is claims-made-and-reported with a duty to defend. ⁴Company-reported. Current MPL page; eligibility and policy wording remain underwriting-specific.

If you need limits above primary Cyber or Tech E&O, At-Bay lists excess options for those lines; this does not establish a general commercial umbrella policy. ^3,2Company-reported. Shared umbrella-excess key used only for explicitly marketed excess products.

Baldwin’s current commercial pages list or describe a range of business coverage for named sectors, including professional services, transportation, government contractors, real estate, digital infrastructure, construction, and M&A. These are company-described lines or considerations for those audiences, not a universal catalogue or a statement that every line is available to every buyer. ^{31,34,32,30,28,35,36}Company-reported. Company marketing pages for the named sectors; the listings do not establish policy wording, eligibility, jurisdictional availability or insurer commitments.

Do not assume a past carrier announcement identifies today’s insurer: At-Bay’s 2023 announcement said eligible new E&S Cyber and Tech E&O would use At-Bay Specialty Insurance Company, but it does not settle a current California quote or MPL issuer. ¹¹Company-reported. Historical announcement effective August 7, 2023; no buyer-specific policy reviewed.

Ask who will issue your MPL policy: the current product page names no insurer, and a 2023 announcement naming United Specialty Company does not establish the present carrier or California availability. ^4,13Not found in reviewed sources. Current issuer not established; preserve source spelling without converting historical brand wording into a verified legal-entity record.

The reviewed group disclosure and commercial product pages do not identify a licensed agency or issuing insurer for a buyer’s specific policy or for each listed line. Ask Baldwin to identify both on each quote and binder. ^{15,26,31,34,32,30,28}Not found in reviewed sources. Reviewed official group disclosure and commercial pages on 2026-09-29; it does not establish that no licensed affiliates, carriers, or partner arrangements exist.

An online quote is not bound coverage; At-Bay’s broker process still requires application review, chosen limits and retentions, documents, effective date, contingencies and signatures before binding. ^6,4Company-reported. Public broker workflow; no application submitted and no speed guarantee inferred.

Baldwin’s business-insurance quote page shows a three-step online intake. Its visible first step asks for a revenue band, company and headquarters details, and contact information; the “Get a quote” link points to app.foundershield.com. Baldwin’s business page and contact page also invite prospects to speak with an advisor. The reviewed evidence does not establish a completed quote, purchase, or policy bind through this route. ^18,19,16,20Company-reported. The specific business-insurance quote page inspected on September 28, 2026; the first of three steps was visible and its quote link pointed to app.foundershield.com. Do not generalize this route to all Baldwin commercial prospects or products.

After a cyber incident, At-Bay describes an in-house claims team, breach coach, response partners and incident-reporting routes; this documents its stated process, not claim payment or service quality. ^8,9Company-reported. Cyber incident process; confirm policy-specific notice obligations and consent requirements, including non-cyber E&O claims.

Baldwin says its claims-advocacy team works with clients, their claim service providers, and other partners before, during, and after a loss to help manage claims and consider resolution strategies. This describes an advocacy service, not who decides coverage or pays a particular claim. ²¹Company-reported. Company-described commercial claims-advocacy service; it does not establish that Baldwin is the insurer or claim decision-maker for a policy, or guarantee a claim outcome.