Ullico Casualty Group Inc. (UCG), a subsidiary of Ullico Inc., has entered into long-term agreements with Alterra America Insurance Co. (Alterra America), a subsidiary of Alterra Capital Holdings Ltd., a provider of diversified specialty insurance and reinsurance products to corporations, public entities and P&C insurers.
Ullico says the agreement will allow the company to continue providing multiemployer and government fiduciary liability and union liability insurance at affordable premiums.
Beginning Jan. 1, 2013, UCG will offer new and renewal fiduciary and union liability insurance policies with Alterra America, which has a financial strength rating of A XV (Excellent) by A.M. Best (rating as of Sept. 30, 2012). UCG says claims professionals and underwriters will work with its producers to ensure a seamless transition to Alterra.
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