The Distinguished Programs Group LLC (Distinguished Programs) has acquired the HLI Umbrella Program from Kinloch Holdings, Inc. (Kinloch), a New York insurance brokerage operation. The HLI Umbrella Program management team, led by Kathy Damon, will join Distinguished Programs. Kinloch will continue to own and operate the remaining HLI wholesale business.
The HLI Umbrella Program is comprised primarily of hospitality and commercial real estate business and is written through "A-" and above insurance carriers. This acquisition further strengthens Distinguished Programs' foothold in real estate and hospitality purchasing groups. The company founded the nation's first real estate umbrella purchasing group in 1987 and continues to operate the group today.
The purchase from HLI represents Distinguished Programs' second umbrella program acquisition in the past seven months. In November 2012, IDP Holdings LLC - a joint venture between Distinguished Programs and Ironshore Holdings (U.S.) Inc. - acquired the hospitality business of National Specialty Underwriters, Inc. (NSU) and its specialized hospitality claims handling division, Certus Claims Administration LLC. NSU is a recognized leader in umbrella liability for luxury and limited services hotels, resorts and casinos, and is the longest running hospitality insurance program in the country.
Jeremy Hitzig, Chief Executive Officer of Distinguished Programs noted that, "The combined strengths of the HLI Umbrella Program and NSU will enable us to deliver a level of underwriting, risk control and claims expertise, buying power and portfolio of insurance carriers that is unrivaled in the hospitality and real estate industries."
About Distinguished Programs
Distinguished Programs is a leading national insurance program manager focused on niche products for select business segments including real estate, hospitality, builders risk and museums. Products are distributed through a network of more than 3,000 independent agents and brokers. Distinguished Programs is also the parent company of ReSource Pro, a pioneering business process outsourcing company for the insurance industry. For information, visit: www.distinguished.com <http://www.distinguished.com/>