The Midland Company, an Ohio-based employer, announced that American Modern Insurance Group, its wholly owned specialty insurance subsidiary, formed a partnership with American Express Property Casualty to add manufactured home, motor home, travel trailer, and nonstandard specialty homeowner products to American Express’ present insurance offerings.
The American Express Property Casualty companies, a subsidiary of American Express, is adding these new products to their current auto, home, small watercraft, personal liability and other select insurance product offerings. American Modern Home Insurance Company, a company of the American Modern Insurance Group, will underwrite these new insurance products for American Express.
The partnership gives American Express clients immediate access to an expanded line of specialized insurance products through American Modern and meets the company’s stringent quality standards.
According to Don Shanks, senior vice president of sales operations at the American Express Property Casualty Companies, a special agent group will supply insurance quotes and bind coverage for interested customers. American Modern Home will then issue the policies and provide service throughout the policy term.
The American Express Property Casualty companies will immediately start offering American Modern Home’s manufactured home, motor home and travel trailer policies throughout the U.S.
Specialty homeowners’ policies specifically designed for the nonstandard market will initially be offered to American Express customers in Arizona and California, with plans for countrywide distribution of the product at a later date.
Topics Mergers & Acquisitions
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