March 1, 1999 by Canadian Underwriter
Richard Patina, president of Lombard Commercial Lines and Robert Taylor, president of London Guarantee have announced the formation of a strategic alliance between the two insurance companies to refer business that falls within their respective areas of specialty. Lombard will refer to London Guarantee accounts seeking coverage for certain types of directors’ and officers’ liability, errors and omissions, fidelity or contract, developer or commercial surety exposures, and London Guarantee will refer to Lombard accounts seeking general commercial automobile, property or liability coverage that London Guarantee does not wish to underwrite.
According to Patina, the alliance offers both companies a greater complement of products and services while expanding their broker reach. “We made the arrangement to offer a fuller range of products for our brokers. We decided on London Guarantee because our brokers were almost unanimous in their support,” he says. Noting the transaction will offer a greater reach in the marketplace for both companies, Patina adds he expects to see more strategic partnerships in the future between specialty insurers.