RICHFIELD, Ohio, May 19, 2009 (GLOBE NEWSWIRE) -- National Interstate Corporation (Nasdaq:NATL), and its principal operating subsidiary, National Interstate Insurance Company, proudly celebrate 20 years of serving the transportation insurance industry. National Interstate has enjoyed significant growth since its inception in 1989, and offers a broad array of programs including traditional insurance and innovative captive solutions. The company also provides personal lines products for specialty vehicle owners, as well as transportation and general commercial insurance in Hawaii and Alaska.
Over the past two decades, National Interstate has not only become the number one provider of passenger transportation insurance in the U.S., but it has also expanded its offerings to include over 30 specialty products. The Company insures everything from school buses, motor coaches, trucks, limousines and non-emergency medical transportation to all types of recreational vehicles and commercial vehicles used by small business owners.
Additionally, the Company has become the leading writer of transportation captive insurance programs, which now represents over half of its gross premiums written. "We attribute our success in alternative risk transfer programs to the partnership philosophy it fosters. Captives give commercial insurance buyers an alternative to traditional insurance allowing them to share risk and reward with other operators. Captive customers enjoy many long-term benefits including controlling their insurance costs, sharing risk management and best practices, and having direct access to our senior management," said Dave Michelson, President and Chief Executive Officer of National Interstate Corporation.
In conjunction with its product and market expansions, National Interstate has built its team of insurance professionals to over 350 employees. Headquartered in Richfield, Ohio, the National Interstate group of companies also has offices in Hawaii, Pennsylvania and the U.S. Virgin Islands. "As we celebrate this milestone anniversary, I would like to recognize our employees for their motivation and commitment to delivering creative insurance solutions and exceptional service. It is through their dedicated efforts that we built this company, and we all look forward to many more years of serving the industry and our niche markets," Michelson added.
National Interstate offers its products through a network of agents and brokers in all states and the District of Columbia. The Company's insurance subsidiaries are rated "A" (Excellent) VIII, by A.M. Best Company, and have a history of solid growth and profitability.
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. Headquartered in Richfield, Ohio, National Interstate is an independently operated subsidiary of Great American Insurance Company, a property-casualty subsidiary of American Financial Group, Inc. (NYSE:AFG) (Nasdaq:AFG).