SOURCE: Pilgrim Insurance

May 05, 2005 11:36 ET

Pilgrim Insurance Chosen for Commercial Auto Servicing

Commonwealth Automobile Reinsurers Appoints Carriers

BOSTON, MA -- (MARKET WIRE) -- May 5, 2005 -- Pilgrim Insurance, a leader in business process outsourcing, was chosen to service the Commonwealth Automobile Reinsurers (CAR) Commercial Limited Servicing Carrier Program. Pilgrim is one of six carriers appointed to manage the approximate two hundred million dollars of ceded commercial automobile insurance business. Pilgrim, based upon their proven track record managing the residual market, will provide performance-driven management inclusive of claims, underwriting and customer service.

Pilgrim, with a dedicated staff and an experienced management group, has eighteen years of experience managing residual market business including CAR's Taxi and Limousine Program. As a chosen carrier, Pilgrim will manage approximately thirty million dollars of the residual market focused on servicing both CAR and the individual agents. Barry Tagen, Pilgrim's VP of Underwriting, said "we are pleased Pilgrim was chosen as a Servicing Carrier for this Program. We have extensive experience handling both voluntary and residual market commercial automobile business for multiple clients. We are poised to provide quality service to the Program, focusing on containing claim and service costs as well as depopulation of the residual market."

In preparation for a January 2006 implementation, CAR solicited a Request for Proposal (RFP) from all carriers interested in servicing the commercial residual market business. Mike Trovato, EVP and Treasurer of CAR, explained the RFP process as an extensive evaluation of each carrier's ability to manage this business. Mike said, "we are looking forward to a great working relationship with all chosen carriers. Pilgrim was chosen as a result of a highly effective RFP process and achieved one of the highest scores based upon overall quality of services and cost effectiveness."

Pilgrim of Boston, MA provides complete business process outsourcing (BPO) services for private passenger and commercial automobile business. Founded in 1987, Pilgrim was the first company in Massachusetts to provide third-party management and operational services to property and casualty insurers and financial institutions. For additional information about Pilgrim, please visit our web site at www.pilgrimins.com

CAR is the industry operated residual market and statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts. In its residual market role, CAR provides access to private passenger and commercial motor vehicle liability and physical damage insurance to that segment of the State's motoring public that is unable to obtain automobile coverage through the voluntary market. To learn more about CAR please visit their web site www.commauto.com.

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