Baldwin & Lyons, Inc. announced that its Indiana-based Sagamore Insurance Company subsidiary will no longer market and underwrite workers’ compensation coverage for small businesses.
“This product line, the Company’s smallest with approximately $9.6 million of premium in force, has performed below expectations for several quarters and remediation measures undertaken late last year failed to improve underwriting results,” said the announcement.
It also noted that “policies currently in force will run off through normal expiration dates and all quotes outstanding will be honored. However, no new business will be written after December 31, 2004, “and that “all personnel involved in this product will be offered other positions within the Baldwin & Lyons Group.”
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