AutoOne Insurance, a division of OneBeacon Insurance Group, announced that, pending regulatory approvals, AutoOne plans to expand its LAD (Limited Assignment Distribution) services to Arizona, Colorado, Montana, Nevada, New Mexico, Oregon, South Carolina, Idaho, Utah, Washington, West Virginia and Wyoming.
It will also expand its CLAD (Commercial Limited Assignment Distribution) services in South Carolina.
A LAD/CLAD servicing carrier accepts Assigned Risks on behalf of
automobile insurance companies that wish to outsource mandated state obligations. AutoOne currently offers LAD services to carriers writing in New York, New Jersey, Texas, California, Pennsylvania, Connecticut, Delaware, Vermont, Maine and Washington D.C., and CLAD services in the states of New York, Pennsylvania and Texas.
AutoOne expects to begin writing business in these new states starting in January of 2006.
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