Specialty Underwriters’ Alliance Inc. announced a new partner agent contract with Appalachian Underwriters, Inc., which specializes in small artisan and general contractors business such as carpentry, electricians, and interior decorators, as well as suppliers to the construction industry such as drywall suppliers.
Appalachian provides commercial general liability and commercial auto liability. The company will focus initially on 12 southeastern states and look to expand to other states in 2006. Appalachian has also agreed to purchase $1 million of SUA’s Series B common stock.
Appalachian, headquartered in Clinton, Tenn., has a current workers’ compensation customer base of more than $80 million and 8,500 accounts in the small contractors market segment. The company receives 950 new contractors applications per month and has access to over 4,000 retail agents.
Chicago-based Specialty Underwriters’ Alliance Inc., through its subsidiary SUA Insurance Company, is a specialty property and casualty insurance company that provides commercial insurance products through exclusive wholesale partner agents that serve niche groups of insureds.
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