Specialty insurer Kemper Corp. has entered into an agreement to move its Classic Collectors book of business to specialist Hagerty, a leader in the collector vehicle insurance market,
The book of business generated approximately $16 million in annual premium in 2018,
Under the agreement, Kemper will work with appointed agencies to transfer the book of business.
Kemper said it will continue to write new Classic Collector policies through October 31, 2019.
“Hagerty is a great partner in that they’re fully committed to the classic collector market and the agents that serve the market, and share our dedication to customer satisfaction,” said Duane Sanders, president of Kemper’s Property and Casualty Division. “This agreement will provide our agents with a seamless, efficient way to transfer their business to a market-leading classic collector insurance carrier.”
Sanders also said the move allows Kemper to invest additional resources in its specialty and preferred markets.
“This is a perfect marriage,” said McKeel Hagerty, CEO of Hagerty.
Classic Collectors provides classic vehicle insurance for all types of collector and specialty vehicles including antiques, exotics, tractors and military vehicles.
Hagerty, a privately held company, is the world’s largest provider of specialty insurance to vintage vehicle enthusiasts. It has offices in the United States, Canada, Germany and the United Kingdom.
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