BancInsure Information

BancInsure (BI) has been released from hazardous financial condition, has new ownership and plans on re-entering the insurance market via the program distribution segment of the industry. BI will be taking minimum risk positions of 10-25% on profitable niche oriented programs controlled by professional program administrators and using strong “A rated” reinsurers to protect its balance sheet. The target size for a BI program will be $3m-$20m in size and exceptions can be made for the right opportunity. BI is a non-rated admitted insurance carrier in 48 states. The aim of BI is to write short to medium tail insurance products with lower limits. BI will focus on property, surety and general liability business and will avoid other longer tail lines of business that require more capital and long term monitoring of the business. Some examples of the products BI will pursue directly include, non-standard auto, low limit surety bonds such as bail bonds and contractors licensing bonds, low value dwellings in non-catastrophe prone areas, marinas, retail general liability, and small niche public and private transportation classes. BI personnel does have strong ties with large Captive managers and does see itself using its paper when needed for well capitalized captives for various lines of business that could include workers compensation or other longer tail lines that are niche focused with large deductibles and well controlled.