Great American Insurance Group Alternative Markets Division Introduces National Musical Instrument Insurance Program
CINCINNATI – April 13, 2021 – Great American Alternative Markets is pleased to announce its newest national program, effective March 1, 2021, offered in conjunction with Heritage Insurance Services, located in Feasterville, Pennsylvania. The 30-year program focuses on coverages for fine musical instruments throughout the United States and currently supports over 10,000 clients.
Rich Suter, Divisional President, Great American Alternative Markets confirms, “We are proud to enter this relationship with Heritage as their carrier. Heritage is a perfect example of the value experienced program administrators bring to the marketplace -- unsurpassed subject matter expertise, exclusive coverages and customized policyholder services.”
The specialty program provides dealers, makers, and repair shops specialized coverages under the Heritage “Workbench Policy” designed specifically for the musical arts trade. For owners of fine musical instruments, coverage is provided on a Heritage Musical Instrument Policy.
“Great American has been a breath of fresh air in terms of their Day 1 commitment to our specialty program. Their team fully embraced our unique program as well as the needs of our customers very early in the program underwriting and throughout the transition process. The company’s state of the art computer issuance and servicing capabilities have kept our operation running seamlessly through the transition,” states Ellis W. Hershman, Vice President Program Director, Heritage Insurance Services.
Inquiries about Heritage Insurance Services national fine musical instrument and dealers’ program may be directed to Ellis W. Hershman, Vice President Program Director at email@example.com.
Great American’s Alternative Markets Division offers agents and clients a variety of risk- sharing and traditional program insurance options that support both specialty niche programs as well as generalist businesses. The division’s captive capabilities include Agency, Association and Group captives.
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and indexed annuities in the retail, financial institutions, broker-dealer and registered investment advisor markets. On January 27, 2021, AFG announced that it entered into a definitive agreement to sell its annuity business to Massachusetts Mutual Life Insurance Company. The sale is expected to close in the second quarter of 2021. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed October 28, 2020). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
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