Expanded Admitted Company Capabilities Now offered to Munich Re clients Affiliates Bring Additional Capabilities
Affiliates Bring Additional Capabilities
Princeton, New Jersey, 17 June 2010 – As part of a strategy to expand its capabilities for Program Administrators, two additional admitted companies – American Family Home Insurance Company (AFH) and American Southern Home Insurance Company (ASH) – are now available to Program Administrators of the Specialty Markets Division of Munich Reinsurance America, Inc. (Munich Re).
Rate and form filings have been made for these affiliates, which will enhance the ability to accurately price coverage for individual accounts, according to Craig Smiddy, president of Specialty Markets.
“Our Program Administrators will now have the additional means required to underwrite and price a wide range of accounts within their specialty,” Smiddy explained. “The added capabilites complement our already robust platform geared towards this dynamic marketplace.”
AFH and ASH are subsidiaries of American Modern Insurance Group, which became part of the Munich-American Holding Corporation group in 2008. “Along with American Alternative Insurance Corporation (AAIC), they are positioned to provide our clients financial stability and security for their program needs,” Smiddy said. AAIC currently provides clients with multi-line capabilities and unbundled services, and AAIC’s capabilities are well known to its Program Administrators.
Available in many states, qualified Program Administrators can rate, quote and bind policies in any of the three companies depending on risk characteristics and filing approvals.