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Home > Property Insurance Coverage > Home Owners Insurance > Penn America Group.
Penn-America Group.
Penn-America Group Located in Hatboro PA, Penn-America is a member company of United America Indemnity, Ltd.
Penn-America Insurance Company was established in 1975 by Irvin Saltzman and traces its roots to the general agency he founded in 1947. Penn-America completed a successful secondary offering, which positioned the company for future profitable growth. In 2005, Penn-America became a subsidiary of United America Indemnity, Ltd.
Penn-America Group, Inc. is a specialty property and casualty insurance holding company. Its subsidiaries market and underwrite general liability, commercial property and multi-peril insurance for small businesses that are located in small towns and suburban and rural areas. The Company distributes its insurance products through a small network of about 65 wholesale general agents who serve more than 30,000 retail insurance brokers.
The Company is a specialty property and casualty insurance company which, through its subsidiary, Penn-America Insurance Company and its subsidiaries, Penn-Star Insurance Company and Penn-Patriot Insurance Company markets and underwrites general liability, commercial property and multi-peril insurance for small businesses that are located in small towns and suburban and rural areas nationwide.
Penn-America’s insureds are small businesses that have limited access to larger standard lines insurers and must seek insurance in the excess and surplus lines market because of their rural locations, small premium size and non-standard risk characteristics. In this secondary market Penn America is rewarded with higher prices than the standard lines segment, more flexibility in excluding coverage for specific loss exposures and lower premium taxes and state guaranty-fund assessments.
Penn-America and United National Group have combined their Commercial Binding Authority units under the management of United America Insurance Group. Penn-America will be retained as the name of this combined business strategy. There are many benefits to this new sleek structure including the expansion of product line offerings, state of the art knowledge and a shatterproof focus on their franchise value philosophy.
The Company focuses on excess and surplus commercial lines including monoline general liability, monline property and multi-peril and umbrella coverage’s.
Produce a superior return to shareholders by being the first-choice insurance carrier for a select group of wholesale general agents who serve the small-business marketplace.
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