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United National Specialty Health Insurance Company

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A review of the United National Specialty Health Insurance Company leads to the United National Specialty Insurance Company (aka United National Group or UNG). The company was founded in 1960 and is a member of Global Indemnity plc. UNG has assets of $77,869,902, with a net surplus of $54,973,340 and a capital of $4,200,000.

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UNG offers three types of business insurance focusing on the following: general liability, professional liability, and property. While not a health insurance company, they are a subsidiary of Global Indemnity plc and focus on specialty products.

The parent company Global Indemnity plc has several subsidiaries covering a large amount of insurance and reinsurance needs. The following are the subsidiaries:

  • Diamond State Group (wholesale brokerage)
  • Penn-America Group (focusing on binding authority)
  • United National Group (exclusive market programs)
  • Emerging Products (commercial automobile)
  • Wind River Reinsurance Company, Ltd. (limited risk and structured reinsurance)

United National Specialty Insurance Brief History

Founded in 1960, UNG has their headquarters in Bala Cynwyd, PA. With their focus on program market, they distribute through program administrators with specific required authorities the following types of insurance:

  • General liability
  • Property
  • Marine
  • Products with professional lines

UNG holds in all 50 states and the District of Columbia admitted licenses and surplus lines qualifications. On October 15, 2004, UNG combined their company with Penn-America Group, Inc. and Penn Independent Corporation, and became a specialty property and casualty insurance company and later combined with Global Indemnity plc.

On July 2, 2010, Global Indemnity plc consolidated UNG and Penn-America Group under a common structure of management. The benefits of this were to bring expertise to both groups specialty program administrators.

United National Specialty Insurance Products and Services

Being a very exclusive company who focuses on those niche markets that are underserved by most insurance company, UNG is a leader by its selectivity. Their focus has been on offering specific products cover the following:

  • Equine
  • Couriers
  • Forest Products
  • Health and Fitness
  • Auto Physical Damage
  • Archery
  • Homeowners
  • Marine Liabilities
  • Insurance Agents and Brokers E and O
  • Pawnbrokers
  • Orthotics and Prosthetics
  • Self Defense Personal Liability Protection
  • Towing
  • Specialty Casualty
  • Umbrella/Excess
  • Used Car Dealers

With some, many different product offerings in specific fields there are certain criteria for each. For example, with archery, there are typical exposures:

  • Wholesale distribution of equipment related to archery
  • Manufacturing of equipment
  • Sales of equipment

The coverage available specifically to archery includes both liability and property (limited to five million and one million per location). Some of the features of being insured under archery are the following:

  • Completed operations – one million for occurrence and two million under general aggregate
  • General liability (comprehensive) – one million occurrence and two million general aggregate
  • Fire damage legal liability (for store owners) – $300,000 for any one fire

Another specialty insurance offered by UNG is specialty casualty insurance. This is available in the U.S. except for the state of Alaska. The typical exposures include:

  • Construction project owners
  • Commercial contractors
  • Apartment owners
  • Condominium associates
  • Building owners
  • Manufacturers
  • Retail operations
  • Distributors

Coverage available for these exposures includes the following:

  • One million for occurrence
  • Two million for general aggregate
  • Two million for products aggregate
  • General aggregate per location
  • General aggregate per project
  • ISO CG2010 1185

Some of the benefits of this plan are the following:

  • ISO products liability occurrence form
  • ISO commercial general liability occurrence form
  • Liability protective form
  • ISO owners and contractors protective
  • Minimum premium of $5000
  • Broad risk taste
  • General liability excluding products

United National Specialty Insurance Company Rating

A.M. Best has given UNG a rating of A which is considered “Excellent.” The company’s financial strength was also given a great rating of “Stable.”

As for UNG’s credit rating, A.M. Best gave them an “a” rating, which means “Strong” and an outlook of “Stable.” These ratings are recent with an effective date of November 4, 2010.

Another rating company, Demotech, Inc. has given UNG a comparative
Financial Observation. While a financial stability rating was not assigned, the observation did show that UNG has a very high and above average financial outlook compared with other companies.

Companies Offering Health Insurance

Even though UNG is an excellent insurance company, they lack in the areas of health insurance. However, several great companies do offer health insurance. The following health insurance companies ranked somewhere in the top 25 of best health insurance companies on a national level according to U.S. News:

  • Highmark Group
  • Aetna Group
  • Coventry Corp. Group

To take a closer look at these health insurance rates for the above companies or others, enter your zip code.

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