Munich Re Expands Admitted Capabilities for Program Administrators

June 23, 2010

As part of a strategy to expand its capabilities for program administrators, two additional admitted companies–American Family Home Insurance Co. (AFH) and American Southern Home Insurance Co. (ASH)–are now available to program administrators of the Specialty Markets Division of Munich Reinsurance America, Inc. (Munich Re).

Rate and form filings have been made for these affiliates, which will enhance the ability to accurately price coverage for individual accounts, according to Craig Smiddy, president of Specialty Markets.

“Our program administrators will now have the additional means required to underwrite and price a wide range of accounts within their specialty,” Smiddy explained.

AFH and ASH are subsidiaries of American Modern Insurance Group, which became part of the Munich-American Holding Corp. group in 2008. “Along with American Alternative Insurance Corp. (AAIC), they are positioned to provide our clients financial stability and security for their program needs,” Smiddy said. AAIC currently provides clients with multi-line capabilities and unbundled services.

Available in many states, qualified program administrators can rate, quote and bind policies in any of the three companies depending on risk characteristics and filing approvals.

Source: Munich Re America

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