Indianapolis-based Baldwin & Lyons Inc. reported that A.M. Best has upgraded its financial rating of the company’s subsidiary, Sagamore Insurance Company, from “A” to “A+” (Superior).
Baldwin & Lyons said A.M. Best indicated the ratings upgrade is a reflection of “the company’s superior capitalization, improved operating performance and solid liquidity.” Sagamore, which is licensed in 43 states, provides non- standard private passenger automobile coverage as well as liability, cargo and physical damage coverages for small fleet trucking companies and workers’ compensation coverages for small businesses.
The company’s other subsidiary, Protective Insurance Company, is also rated “A+” (Superior) by A.M. Best. Protective specializes in insurance coverage for the large fleet trucking industry.
Together, Sagamore and Protective comprise the Baldwin & Lyons Group which is also rated “A+” by A.M. Best.
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