State Auto Insurance a Columbus, Ohio-based company, has decided to pull out of Rhode Island and also to reduce its offering in the State of Massachusetts. This might actually prove to be beneficial for a Pawtucket insurance company.

Now, State Auto Insurance has stopped writing new home, auto, or business insurance policies in Rhode Island. It will no longer have its offerings at Massachusetts as it is trying to make readjustments after the affiliations with Patrons Mutual Group, Connecticut.

As per this arrangement with State Auto, Narragansett Bay Insurance Co. would be extending its offers to the State Auto Insurance customers in both these states beginning Jan 1. This agreement includes over 10,000 home insurance policies and around $9 million by way of total premiums.

Nick Steffey, CEO, Narragansett Bay has stated that they are extremely excited that they have an opportunity to provide a stable and growing homeowners market in the Northeast sector, ev ... Read more »