Two of the MGU (Managing General Underwriter) partners we work with have announced new carrier partnerships for 2021. Read the exciting news below.
Workers’ Compensation Insurance MGU Method Adds Falls Lake as New Carrier
Method, a Managing General Underwriter wholly focused on Workers’ Compensation Insurance, has announced the addition of the Falls Lake National Insurance Company to its roster of carrier options.
Falls Lake is rated A XI (Excellent) by AM Best and covers 23 states mostly concentrated in the eastern half of the United States.
“We’re excited to partner with the great team at Falls Lake to dramatically expand options for our customers east of the Mississippi.” said Greg Donsbach, President of Method.
Falls Lake shares a similar, broad risk appetite to Method’s existing carriers, Incline Casualty and Service American Indemnity Company.
“Falls Lake is pleased to partner with Method for this new product which combines Method’s industry-leading claims management protocols with Falls Lakes’ risk-driven underwriting philosophies.” said Paul Kearns, Senior Vice President of Underwriting at Falls Lake.
FUBA Adds Second A- Rated Carrier
FUBA Workers’ Comp now has underwriting authority with two insurance carriers that are rated A- (Excellent) by A.M. Best. Effective 1/1/21, Service Lloyds Insurance Company will become part of the FUBA family. Service Lloyds is a workers’ compensation specialist with almost four decades in the market.
New business with effective dates through 12/31/20 will continue to be placed with Lancer Indemnity Company and will stay with Lancer for the first policy term.
New business with effective dates of 1/1/21 and after will be placed with Service Lloyds.
As your clients’ policies come up for renewal, we will transfer them from Lancer Indemnity Company to Service Lloyds. No action is needed on your part; the transfer will be automatic and seamless. The Service Lloyds policies will replace the policies from Lancer, and your clients will keep the same policy number.
FUBA is pleased to be able to continue to offer stable and rated coverage to your small business clients.