Core Specialty Insurance Holdings, Inc.
Core Specialty Insurance Holdings, Inc. is a medium-sized insurance company headquartered in Cincinnati, Ohio, specializing in property, casualty, and marine insurance products for small to mid-sized businesses. The company operates through multiple divisions and platforms, focusing on efficient service and niche markets.
Company Overview
Core Specialty Insurance Holdings, Inc. operates within the insurance industry and is classified as a medium-sized business with a team size of 447 employees. The company is headquartered in Cincinnati, Ohio, and has established a presence in multiple locations across the United States, including major cities such as Atlanta, Chicago, and New York City. Core Specialty focuses on providing specialized insurance solutions tailored for small to mid-sized businesses, emphasizing efficient service and professional support.
Insurance Products
Core Specialty Insurance Holdings, Inc. offers a diversified range of insurance products, including property, casualty, and marine insurance. The company serves niche markets through various divisions, such as Agriculture, Healthcare Professional Liability, and Marine & Energy. Each division is designed to cater to specific industry needs, ensuring that clients receive tailored coverage options. The Surety Division provides products across all 50 states and the District of Columbia, demonstrating the company's extensive reach in the insurance market.
Divisions and Specializations
The company operates through multiple divisions, each focusing on specific areas of insurance. Notable divisions include the Equine Division, which is located in Lexington, Kentucky, and Ocala, Florida, and the Medical Stop-Loss Division, headquartered in League City, Texas. Core Specialty's business unit philosophy allows for local decision-making in underwriting and claims, providing a high degree of autonomy and accountability within each division. This structure supports the company's focus on niche markets and superior underwriting knowledge.
Technology and Innovation
Core Specialty Insurance Holdings, Inc. utilizes a technology platform known as ESCAPE, which enhances operational efficiency for wholesale brokers. This platform offers an innovative alternative for conducting business, aligning with the company's commitment to providing both traditional and innovative insurance solutions. The focus on technology supports the company's goal of breaking down bureaucratic barriers to deliver optimal underwriting solutions for brokers and clients.
Acquisitions and Growth
Core Specialty has engaged in multiple acquisitions to expand its capabilities and market presence. Notable acquisitions include the American Surety Company and the establishment of a Medical Stop-Loss Division. These strategic moves reflect the company's commitment to growth and its focus on enhancing its service offerings in specialized insurance markets. Core Specialty's recognition as one of the 'Top 100 Private Companies in Cincinnati' by the Cincinnati Business Courier underscores its significant position within the industry.