Profile: Baldwin & Lyons Inc (BWINA.OQ)
5 Dec 2013
Baldwin & Lyons, Inc. (B&L), incorporated in 1930, through its divisions and subsidiaries, is engaged in marketing and underwriting property and casualty insurance and the assumption of property and casualty reinsurance. The Company operates in two segments: property and casualty insurance, and reinsurance. The property and casualty insurance segment provides multiple line insurance coverage primarily to fleet transportation companies and to independent contractors who contract with fleet transportation companies. Additionally, the Company offers individual personal automobile coverage, professional liability coverages and business owners’ and commercial property policies. The reinsurance segment accepts cessions from other insurance companies, as well as retrocessions from selected reinsurance companies, providing property catastrophe and casualty reinsurance coverages. B&L’s principal subsidiaries are Protective Insurance Company (Protective), with licenses in all 50 states, the District of Columbia and all Canadian provinces; Protective Specialty Insurance Company (Protective Specialty), which is approved for excess and surplus lines business in 46 states and licensed in Indiana; Sagamore Insurance Company (Sagamore), which is licensed in 47 states and approved for excess and surplus lines business in one additional state; B&L Brokerage Services, Inc., (BLBS), an Indiana-domiciled insurance broker licensed in all 50 states, and B&L Insurance, Ltd. (BLI), which is domiciled and licensed in Bermuda. Protective, Protective Specialty, Sagamore and BLI are collectively referred to herein as the Insurance Subsidiaries.
The Insurance Subsidiaries provide coverage for companies in the motor carrier industry, which retain substantial amounts of self-insurance, for independent contractors utilized by trucking companies, for medium-sized and small trucking companies on a first dollar or small deductible basis and for public livery concerns, principally covering fleets of commercial buses. This group of products is collectively referred to as fleet transportation. Large fleet trucking products are marketed by the B&L agency organization directly to fleet transportation clients but also through relationships with non-affiliated brokers and, to a lesser degree, through specialized independent agents. The principal types of fleet transportation insurance marketed by the Insurance Subsidiaries are commercial motor vehicle liability, physical damage and other liability insurance; workers' compensation insurance; specialized accident (medical and indemnity) insurance for independent contractors; non-trucking motor vehicle liability insurance for independent contractors; fidelity and surety bonds; inland marine consisting principally of cargo insurance, and captive insurance company products, which are provided through BLI in Bermuda.
B&L performs a variety of additional services, primarily for the Company’s insureds, including risk surveys and analyses, safety program design and monitoring, government compliance assistance, loss control and cost studies and research, development, and consultation in connection with new insurance programs, including development of computerized systems to assist customers in monitoring their accident data. Claims handling services are also provided, primarily to clients with self-insurance programs. The Company accepts cessions and retrocessions from selected insurance and reinsurance companies, providing reinsurance coverage for both property and casualty events. The Company markets private passenger automobile liability and physical damage coverages to individuals through a network of independent agents in thirty states. The Company markets commercial property and business owners liability coverages on a limited basis through a managing general agent in the state of Florida. It markets Miscellaneous Professional Liability coverages through wholesale and retail agents on both an admitted and surplus lines basis throughout the United States.
Baldwin & Lyons Inc
Suite 700, 1099 North Meridian S
INDIANAPOLIS IN 46204