Ft. Lauderdale, FL – Patriot National, Inc. (NYSE: PN) recently announced that it has established a strategic relationship with Travelers, the second largest writer of commercial U.S. property and casualty insurance1. Patriot National will initially offer all lines of Travelers’ small business insurance in 15 states, with plans for national expansion.
Patriot National’s strong independent retail agency distribution network will also help to expand our TravPay® pay-as-you-go workers’ compensation solution. TravPay® allows employers to calculate and pay their workers’ compensation premiums by connecting directly to approved payroll providers, reducing the inefficient and costly guesswork of estimated annual payrolls. TravPay® also offers a user friendly self-reporting option for insureds that process their payrolls internally.
“This is a significant opportunity for Patriot National,” said Steven M. Mariano, Chief Executive Officer of Patriot National. “Our independent agency distribution network plays a key role in our success and we are looking forward to working with Travelers. We are also excited about the growth prospects to generate premiums for the complete portfolio of insurance offerings, building a strong foundation to drive additional revenue for our company. We believe this will also be a highly attractive value proposition to our agents and policyholders.”
Source: Patriot National