(Sharecast News) - Randall & Quilter announced on Friday that Accredited Surety and Casualty Company - a wholly owned subsidiary of Randall & Quilter Investment Holdings, and a Florida-domiciled insurance company licensed in all 50 states to write admitted business - has entered into a new programme partnership with Trinity Transportation Services (TTS) and its associated third-party administrator, Global Claims Services.
The AIM-traded firm said that from 1 November 2019, Accredited would be an issuing carrier on behalf of TTS and the tow truck operators business it had built across the United States.
It said Accredited's product with the account would include commercial liability and property coverages for towing, transport and recovery services offered nationwide.
Accredited would initially provide coverage in TTS's top states, and ultimately offer the programme nationally.
"We are pleased to partner with TTS as they have an excellent reputation in their industry and the established platform and resources to support their program plans," said Accredited president and chief executive officer Todd Campbell.
"Accredited has a growing pipeline of new partnerships for 2019 and 2020 and we are excited to be delivering on our mission to be the programme underwriter of choice for US MGAs, MGUs, program owners and their capital partners."
Walt Sliva, president of TTS, added that the company was "pleased" to begin a new partnership with Accredited.
"Accredited's unique approach to programs and dedicated program team will provide Trinity with the ideal platform to serve our retail agents and customers in the towing, transport and recovery industries.
"We are looking forward to a long and productive relationship with Accredited."
Alan Quilter, Randall & Quilter joint chief executive officer and group chief financial officer, said the partnership underlined the firm's commitment to supporting high quality programme business, with "superior MGAs" across the US, and highlighted the important role that Accredited played in the arena.
"Our pipeline is strong and we expect to announce further partnerships shortly."
At 1233 GMT, shares in Randall & Quilter Investment Holdings were down 0.73% at 189.6p.
R&Q Insurance (RQIH)19 Jun 2024 17:24
EARNINGS AND TRADING: International Public invests GBP83 million
(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Allian...