South Carolina’s small businesses, Professional Employer Organizations (PEOs), and independent insurance agents received news in the form of increased business insurance capacity. Newport Star Reinsurance Company and Accident Insurance Company (AIC) were recently approved by the South Carolina Department of Insurance, and are now able to offer property and casualty insurance with a specialization in workers’ compensation for PEOs.
“It’s a great day for small employers in South Carolina,” Michael Camilleri, president of Newport Star, remarked. “We serve a much ignored segment of the market, the small business owner. We look forward to providing stability in the provisioning of reasonable and cost- effective business insurance options.”
Appalachian Underwriters serves as the distribution hub for AIC and markets solely through the independent agents. “By arming independent agents with a variety of specialty workers’ compensation and general liability options, we expect to rapidly alleviate considerable stress faced by the state’s small employers,” AIC’s president John Valko added.
“By aligning ourselves with the highest quality service providers, including professional employer organizations, Newport Star and AIC are poised to provide real solutions in an otherwise turbulent insurance marketplace,” Paul Hughes, CEO of Risk Transfer, a company that markets Newport Star and AIC programs. Risk Transfer will act as the Managing General Agency, added.
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