MELBOURNE, Fla., April 27, 2011 /PRNewswire/ -- Five Star Specialty Programs, a division of Crump Insurance Services, Inc., and part of Crump Group, Inc., the nation's largest insurance wholesaler, today announced it has secured a general agency appointment with Canal Insurance Company for several specific transportation segments. This move is consistent with Canal's strategic plan to profitably diversify beyond trucking while remaining strongly committed to their present general agency model.
Under the agreement, Five Star will now represent Canal to write designated classes of public auto risks, waste operations, as well as trucking. "This appointment represents an opportunity for Canal to acquire a significant portfolio of seasoned renewal business, while extending its core competency into segments whose results tend to be uncorrelated with trucking," said David J. Firstenberg, President and Chief Executive Officer of Canal Insurance Company.
Coverage offered includes auto liability, physical damage, general liability and other statutory requirements such as uninsured/underinsured motorist. Canal is rated A ("Excellent") by A.M. Best. "We couldn't be more pleased to secure this appointment with Canal. Their long history in the transportation business makes them an excellent partner for Five Star and gives our retail partners enhanced solutions for their accounts in these classes," said David Tooley, President of Five Star Specialty Programs.
Five Star works with licensed and insured retail property and casualty agents and brokers. Those seeking more information regarding the Canal facilities, or any of Five Star Specialty Programs products and services, can visit www.5starsp.com/transportation or contact the marketing department, at [email protected] or 877.247.9772.
About Crump Insurance Services and Five Star Specialty Programs
Crump Insurance Services, Inc. (Crump P&C) is part of Crump Group, Inc., the nation's largest insurance wholesaler. As the property & casualty insurance division of Crump Group, it is made up of Crump wholesale brokerage locations across the U.S. and in Bermuda, Five Star Specialty Programs, Five Star Healthcare, Five Star Professional Programs, Target Insurance Services, and Hanleigh Insurance. Crump P&C is a market leading independent wholesale distributor of property and casualty insurance, linking an extensive network of retail brokers and agents to products provided by over 150 leading insurance carriers. Acting as a program administrator for numerous P&C carriers, Five Star Specialty Programs develops and provides specialty underwriting for commercial insurance programs – including transportation related risks, workers compensation solutions, professional liability, and more – matching insurance needs and market opportunities with the appropriate coverage. Hanleigh Insurance is a high limit disability insurance provider for highly compensated corporate, entertainment, and sports risks. Additional information is available at www.crumpins.com, www.5starsp.com, www.target-capital.com and www.hanleighinsurance.com.
About Canal Insurance Company
Established in 1939 and headquartered in Greenville, South Carolina, Canal Insurance Company is recognized in the industry as a stable, responsive and financially strong insurer of commercial transportation operations. Rated A by A.M. Best, Canal underwrites in forty-four states and is represented by a network of independent general agents across the U.S. For more information, please visit www.canalinsurance.com.
SOURCE Five Star Specialty Programs