January 12, 2021
Platinum Specialty Underwriters announced today the acquisition of International Property & Casualty Insurance of Nevada, Inc. (IPC), a full service Managing General Agent (MGA) and Program Manager specializing in E&S business including a niche in Hired and Non-Owned Auto for the delivery industry. IPC offers the wholesale market a variety of complete packages for the hard to place risks including cannabis, bars and taverns, vacant buildings, and mobile home parks strengthening the offerings of Platinum Specialty Underwriters diverse portfolio.
Tammy Sunderland, President and Senior Underwriter, stated, “Joining Platinum Specialty Underwriters will allow us the tools to expand our current offerings while still delivering unparalleled services through our knowledge of specialty products.” IPC was founded by Tammy Sunderland and Chris Sunderland in 1996.
“For nearly 25 years, Tammy and Chris have worked to develop a niche identity in the E&S insurance market. Our modern platform and collaborative culture will allow IPC to expand across the wholesale insurance industry offering brokers complete packages for tough classes of business,” said Jeff Heath, President of Platinum Specialty Underwriters.
Platinum Specialty Underwriters continues with its mission of investing in MGAs that supply insurance products for hard to insure risks through the Wholesale distribution channel. Platinum has been successfully operating a primary auto liability program for Mid & Large fleet trucking firms and has a number of new offerings launching in Q1 2021.
The transaction closed on December 31, 2020 and IPC will continue to operate under its established brand name, so client business will not be affected. Platinum Specialty Underwriters was represented in the acquisition by TAG Financial. MarshBerry was IPC’s advisor.
About Platinum Specialty Underwriters
Platinum Specialty Underwriters is a Managing General Underwriter platform distributing through the Wholesale channel. The platform focuses on leading service technology combined with expert underwriting, claims management, loss inspection, and actuarial analysis to assure partner insurance company’s low loss ratios. Platinum invests in underwriting teams and underwriting businesses with a collaborative entrepreneurial culture.
Contact: Jeff Heath 908.295.1763 jheath@xptspecialty.com
About International Property & Casualty Insurance of Nevada, Inc.
International Property & Casualty Insurance of Nevada, Inc. (IPC) is a Managing General Agent and Program Manager that specializes in E&S business including a niche in Hired & Non-Owned Auto. IPC provides insurance products to wholesale insurance brokers providing complete packages for hard to place accounts including food delivery and cannabis.
Contact: Tammy Sunderland tammy@ipc-nv.com