Lloyd’s Added as Reinsurance Partner
Preferra Insurance Company Risk Retention Group (Preferra), a leading provider of liability insurance tailored to social workers and mental and behavioral health professionals, is pleased to announce the addition of Lloyd’s as a reinsurance partner alongside Swiss Re.
Our partnership with Lloyd’s, one of the world’s leading insurance and reinsurance companies and rated ‘Excellent’ by A.M. Best Company, further enhances Preferra’s financial strength. Lloyd’s has a strong position in the global reinsurance markets as a leading writer of specialty property and casualty risks. By leveraging Lloyd’s extensive expertise, global reach, and financial strength, Preferra expands and strengthens its liability programs and its protections for our policyholders.
“Adding Lloyd’s as a reinsurance partner is a strategic move that reinforces our commitment to delivering exceptional financial security and peace of mind to our policyholders,” said Dr. Richard L. Jones, PhD, President. “Lloyd’s unparalleled reputation and financial stability complement our existing reinsurance partnership that we are maintaining with Swiss Re.”
The combination of Lloyd’s and Swiss Re’s support provides Preferra with enhanced risk diversification, regulatory compliance, and claims payment security, ensuring the continued stability and financial strength of its liability insurance products for Preferra policyholders.
“We are excited to partner with Lloyd’s to provide an additional level of reinsurance solutions that meet the needs of the insurance market,” said Tony Benedetto, CEO. “Lloyd’s long-standing global reputation for financial stability and underwriting expertise aligns seamlessly with Preferra’s commitment to delivering superior protection, stability and service excellence to our policyholders.”
About Preferra Insurance Company RRG
For over a decade, Preferra Insurance Company Risk Retention Group has been the trusted choice in providing best-in-class liability insurance products to social workers as well as mental and behavioral health professionals. Preferra is an independent organization controlled by our policyholders who elect the Board of Directors to oversee the company in their best interests ensuring our policyholders’ needs are represented at our organization’s highest level.