Protective Insurance Company and 5Star Specialty Programs, a CRC Group Company, expand partnership
December 11 2018 - 3:53PM
Protective Insurance Company (NASDAQ: PTVCA, PTVCB) and 5Star
Specialty Programs are expanding their strategic partnership in the
Public Auto market. Effective immediately 5Star will be
Protective’s sole distribution source for its commercial auto
insurance offering in the Public Auto (Charter/School Bus &
Limo) segment.
Protective has partnered with 5Star since 2016 to offer
commercial auto insurance for Public Auto customers operating with
1-25 units. Going forward 5Star will assume all of Protective’s
distribution services within the Public Auto market. 5Star’s
experience and expertise in this market will provide significant
value to Protective’s customers and distribution partners.
“We are very excited to expand our existing strategic
partnership with 5Star,” Jay Nichols, Interim CEO and Chairman of
the Board of Protective Insurance Company said. “We have been very
impressed with their ability to produce profitable business and
integrate with our internal processes and systems. 5Star’s long
track record within this complex risk class is impressive and will
help us improve our offering while providing value to our
customers.”
Dave Tooley, President of 5Star Specialty Programs, a CRC Group
Company, said, “We’ve built a strong partnership with Protective
over the past several years and we’re looking forward to further
growing our relationship with such a great company. We’re thrilled
Protective selected our organization to be their exclusive Public
Auto distributor. Our expertise in the public auto sector, in
addition to the best-in-class service we provide on each account,
will be instrumental in successfully growing our relationship.”
Over the next twelve months, Protective will be transitioning
its retail produced book of Public Auto business to 5Star. This
process will include an in-depth review of the existing book of
business, specifically examining rate adequacy and volatility of
the segment.
5Star and Protective have more than 35 years of combined
experience in the Public Auto space and remain committed to
providing best-in-class products and services for their
customers.
Protective Insurance Company is a property-casualty insurer
specializing in transportation and workers’ compensation through
its underwriting companies, Protective Insurance Company and
Sagamore Insurance Company. With an 85-year tradition of delivering
the highest-quality, customized insurance products, Protective
Insurance Company offers coverages for trucking fleets, workers’
compensation, and independent contractors through its retail
distribution channels and program businesses. Protective Insurance
Company is based in Carmel, Indiana and has a financial rating of A
(Excellent) by A.M. Best. For more information, visit
www.protectiveinsurance.com.
5Star is a full-service Managing General Agent (MGA) offering
underwriting expertise in transportation and workers’
compensation. The company provides exceptional industry and
coverage expertise, highly rated carrier providers, and competitive
rates & commissions for their agent partners. 5Star
is a division of CRC Group (CRC Insurance Services, Inc.), one of
the largest insurance wholesalers in the nation. For more
information, visit www.5StarSP.com
Media contacts:
Jessica Marshall | CRC Group
Vice President
Practice Group Development Manager
O | 214.265.2693
C | 248.842.1239
E | jmarshall@crcins.com
Matt Thompson
Executive Vice President
Protective Insurance Company
O | 317-429-2684
E | mthompson@protectiveinsurance.com
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