Buffalo, N.Y.-based Merchants Mutual Insurance Co. recently announced that it has formed a subsidiary, Merchants Preferred Insurance Co. and is now accepting commercial and personal lines business in Ohio, effective Jan. 1, 2008.
Merchants Preferred Insurance Co. is a wholly owned subsidiary of Merchants Mutual Insurance Co. Merchants Preferred targets preferred risk individuals and businesses, while Merchants Mutual targets standard risks.
Preferred recently earned an A- (excellent) rating with a stable outlook from the A.M. Best Company. Mutual’s A- (excellent) rating was also renewed by A.M. Best.
Merchants Mutual Insurance Co. and Merchants Preferred Insurance Co. comprise Merchants Insurance Group.
Merchants Mutual and Merchants Preferred offer personal and commercial insurance through a network of more than 600 independent insurance agents throughout the Northeast and Midwest.
Source: Mechants Mutual Insurance Co.