|By Marie Suszynski|
|A.M. Best Company, Inc.|
A unit of
The insurers' strategic business unit, Glatfelter Program Managers, bought the business for an undisclosed price.
The new business complements its current programs,
"I'm very familiar with the programs and underwriters and claims people that managed the two programs," he said. Although the company already offers coverage for senior living, faith-based business is a new niche for
Both are growing areas, with census data and demographics showing that seniors are becoming one of the largest population groups in the country, so it makes sense that nursing homes, assisted living, and independent living will continue to grow, he said.
For religious institutions, the fastest-growing segment is mega churches with more than 10,000 parishioners, which is what Bunker Hill has specialized in for years, Seifert said.
Another benefit of the acquisition is that Bunker Hill's current underwriting and claims staff will continue under
The senior living program, which will be named Glatfelter Healthcare Practice, will include
The religious institutions program will be called Glatfelter Religious Practice and will also provide all lines of insurance except workers' comp. Its specialty will be large churches, synagogues and other religious institutions in all states except
Bunker Hill Underwriters is an underwriting agency subsidiary of
Glatfelter Program Managers focuses on specialty niche markets, including emergency service organizations, educational institutions and school bus contractors, municipalities and water/sewer entities, senior living and religious institutions.
In 2009, the company named
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