FENTON, Mo., Dec. 20, 2010 (GLOBE NEWSWIRE) -- Vanliner Insurance Company, a leading insurer for the moving and storage industry, announced the launch of Compass, an innovative new alternative risk transfer (ART) insurance program developed exclusively for affiliated moving agents of United Van Lines and Mayflower Transit.
Compass enables United and Mayflower moving agents to form their own insurance program to share risk and reward while insulating themselves from the unpredictable insurance costs associated with the cyclical insurance market. Specifically tailored to meet the particular needs of the moving and storage industry, Compass offers long-term premium stability, as well as many other unique benefits for companies who share a commitment to safety excellence.
"We are excited to introduce our first group rental captive program developed for best-in-class moving and storage companies," said Tony Mercurio, Chief Executive Officer of Vanliner. "The launch of Compass represents a turning point for the industry since, until now, ART programs have essentially been unavailable to moving and storage companies. Vanliner is very pleased to fill this void in the marketplace by providing a cost-effective way to manage risk throughout all economic conditions and market cycles. This milestone addition to the Vanliner portfolio of products is just the beginning."
With Vanliner offering this new and cutting-edge program, United and Mayflower participants benefit from Vanliner's expertise in the moving and storage industry, as well as the experience and support of Vanliner's parent, National Interstate Insurance Company, a leader in providing alternative risk transfer solutions to the transportation industry.
Vanliner Insurance Company is one of the premier providers of insurance products for the moving and storage industry. Formed in 1978 and located in the St. Louis suburb of Fenton, Missouri, Vanliner is licensed in all 50 states. In July of 2010, National Interstate Insurance Company, a wholly owned subsidiary of National Interstate Corporation (Nasdaq:NATL), completed its acquisition of Vanliner. National Interstate, headquartered in Richfield, Ohio, is a specialty property and casualty insurance company with a focus on the transportation industry. National Interstate and its insurance subsidiaries, including Vanliner, offer insurance products and services designed to meet the unique needs of niche markets and are rated "A" (Excellent) by A.M. Best Company.
CONTACT: National Interstate Corporation Investor Relations Contact: Tanya Inama 877-837-0339 investorrelations@NATL.com http://invest.NATL.com