Credit General Insurance, Indemnity Enter Cut-Through Arrangement With AmTrust Financial

September 22, 2000

For Credit General, the arrangement provides access to additional surplus upon which to write new business, as well as the security of AmTrust’s surplus. Credit General has resumed writing new business, which it stopped doing in mid-September to prevent exceeding writings-to-surplus requirements.

“This arrangement provides access to $20 million of surplus that supplements the ability of Credit General to assure that it exceeds statutory surplus requirements for writing new business,” said Bryan Griffin, president of PRS Group, Credit General’s parent. “We are delighted to be associated with a strong company like AmTrust.”

Credit General Insurance Co. is an Ohio-domiciled property and casualty carrier with 50 admitted licenses and E&S authority in Texas. Credit General Indemnity Co. is an Ohio-domiciled property and casualty carrier with admitted licenses in Ohio, California and Texas with E&S authority in 17 states.

Their products include workers’ compensation, specialty truck, contractors’ general liability, surety, multi-peril and agency rent-a-captive programs. AmTrust, through its subsidiaries, provides property and casualty insurance, including products such as PC protection programs, to customers of technology vendors. It has been in business since 1981, providing products and services to technology companies.

Credit General Insurance and Credit General Indemnity are subsidiaries of PRS Insurance Group, a Delaware holding company with headquarters in Beachwood, Ohio.

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