Baldwin & Lyons, Inc. announced yesterday that its subsidiary, Protective Insurance Company, has entered into an agreement with Paladin Catastrophe Management to produce property-catastrophe reinsurance in the United States.
The Indianapolis-based commercial trucking carrier said the newly-formed Paladin will solicit and underwrite selected business on behalf of Protective.
Paladin's operations will be managed by David Ingrey from offices in Chester, New Jersey and will be a broker market only, targeting regional U.S. catastrophe business, other than Florida hurricane and California earthquake-exposed business.
B&L said Paladin will also consider specific terrorism reinsurance, as well as property per risk and property aggregate stop-loss programs.
The company said that Mr. Ingrey, prior to his current post, had specialized in reinsurance property underwriting for Arch Reinsurance and F&G/St. Paul Re for the last 10 years.
Gary W. Miller, B&L chief executive officer, said, "While Protective has been involved in the property catastrophe markets for over a decade, we are looking forward to our new arrangement with Paladin and David Ingrey to provide us with greater diversification in this market."
B&L describes itself as a specialty property-casualty insurer with a leading position in providing liability coverage for large and medium-sized trucking fleets.
The company's other product offerings include coverage for non-standard private passenger automobile and small fleet trucking as well as a limited program of reinsurance assumed.
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