RICHFIELD, Ohio, Aug. 11, 2009 (GLOBE NEWSWIRE) -- National Interstate Insurance Company, a leader in captive insurance for the transportation industry, has been expanding its Large Account Rental Captive (LARC) program. The LARC program is part of the Company's Alternative Risk Transfer component and provides an innovative risk management solution for clients with $2 million or more in annual insurance premiums. The company has welcomed three new LARC customers in 2009, bringing the total number of in-force large account clients to seven. These customers have annual premiums in the $2 million to $11 million range.
"Despite continued soft market conditions and a challenging economic environment, we have been able to grow our innovative LARC program," said Dave Michelson, President and Chief Executive Officer. "We attribute this in part to the unique value proposition of the LARC product where we give larger clients greater control, customization and a cost effective way to participate in risk and reward."
"Every aspect of the LARC program is designed around the customer's specific needs. The program features a streamlined package of services, a variety of coverages, flexible collateral requirements and zero capitalization," said Chris Mikolay, National Account Manager. "No two large clients are exactly alike, and with the LARC program we can work with our individual customers to create a customized long-term insurance solution."
With 27 unique captive programs and over half of its gross written premiums derived from Alternative Risk Transfer products, National Interstate's experience and expertise in the transportation insurance market is unmatched. The company is rated "A" (Excellent) VIII by A.M. Best Company, and has a 20-year history of strong growth and financial stability. To learn more about National Interstate's LARC product, contact Chris Mikolay at 800-929-1500 x 1407, or email Chris.Mikolay@NATL.com.
About National Interstate Corporation
National Interstate Corporation (Nasdaq:NATL), founded in 1989, is a specialty property and casualty insurance holding company with a niche orientation and focus on the transportation industry. We differentiate ourselves by offering insurance products and services designed to meet the unique needs of targeted insurance buyers. Our products include insurance for transportation companies, alternative risk transfer, or captive insurance programs for commercial risks, specialty personal lines consisting of insurance products focused primarily on recreational vehicle owners and small commercial vehicle accounts, and transportation and general commercial insurance in Hawaii and Alaska. We offer our insurance products through multiple distribution channels including independent agents and brokers, affiliated agencies and agent Internet initiatives. Our insurance subsidiaries are rated "A" (Excellent) by A.M. Best Company. We are headquartered in Richfield, Ohio with operations in Honolulu, Hawaii, Mechanicsburg, Pennsylvania, and St. Thomas, Virgin Islands.