A new company, Mainstay Insurance Group Inc. in Bellevue, Wash., announced its launch today as a program administrator and specialty wholesale brokerage.
The firm said it will provide umbrella and excess insurance solutions for U.S. retail brokers and focus on the commercial real estate industry and risk management needs of the green movement.
“We have consistently and widely heard from our distribution network that they are looking for more strategic and effective solutions in the umbrella and excess arena to differentiate their package products,” said Dusty Rowland, Mainstay president and chief executive officer.
This feedback, he said in a statement, “is a key motivation for our new business and an area in which we have deep experience. We look forward to providing strategic and comprehensive program solutions that will help our retailers further differentiate themselves and succeed in the marketplace.”
The company said that through strategic relationships with top-rated carriers and an extensive network of regional, national and global retail distribution, it will market value-added products by way of three separate divisions: Strategic Umbrella, Mainstay Programs and Specialty Brokerage.
Eric Arthur, Mainstay co-founder, said the firm is “excited about achieving greater business efficiencies and better serving our retail agents and brokers by combining leading-edge technology with our program management experience.”
Mainstay, he said, has selected XDimensional Technologies' Nexsure Internet agency management system as its platform for operations and growth.
Mr. Rowland and Mr. Arthur are both specialty insurance marketplace veterans. Prior to launching Mainstay, Rowland co-founded National Specialty Underwriters “NSU” and was instrumental in growing it into one of the nation's leading program administrators with premium volumes in excess of $100 million.
Mainstay said it will operate nationally out of new offices in Bellevue, which Mr. Rowland noted was recently voted the #1 city in the country to live, and launch a new company by Fortune Magazine. The firm, he said, looks forward “to tapping the highly skilled workforce in this area to help grow our business.”
More information about Mainstay Insurance Group is available online at www.mainstayins.com, or by contacting Mr. Rowland at 425-453-5157 ext. 1000 ([email protected])or Mr. Arthur at 425-453-5157 ext. 1001 ([email protected]).
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