Patriot Risk Management (PRM), an insurance holding company focused on the workers' compensation insurance industry, has spun-off Patriot Underwriters and Patriot National Insurance Group, parent of Guarantee Insurance.
Following the spin-off, both Guarantee Insurance Company and Patriot Underwriters will be wholly owned subsidiaries of Patriot National Insurance Group.
Guarantee Insurance specializes in traditional and alternative market workers’ compensation insurance products.
Guarantee Insurance is licensed to write workers’ compensation insurance in 26 states and has affiliate relationships with other insurance companies to provide nationwide coverage.
Patriot Underwriters, a managing general agency, program administrator and business process outsourcing service provider (BPO) specializing in workers’ compensation insurance.
Patriot Underwriters delivers a platform of products and services to agents, brokers and insurance companies.
PRS Group and its operating subsidiary Patriot Risk Services will remain a wholly owned subsidiary of Patriot Risk Management.
Patriot Risk Services provides nurse case management, cost containment, claims administration and adjudication services to the workers’ compensation industry.