Ullico Casualty Group, Inc. and Ullico Casualty Co. have formed a strategic alliance with property and casualty insurance carrier Philadelphia Insurance Cos. The partnership allows Philadelphia to deliver contract and commercial surety bonds, while supplying Ullico Casualty with the financial backing to serve large union contractors.
Philadelphia has created a surety division and will be the carrier and underwriter. Under the agreement with Philadelphia, Ullico Casualty will be the distribution channel for union contractors, while Philadelphia will be open to do business with union and non-union markets.
The new business relationship will be based at Philadelphia’s headquarters in Bala Cynwyd, Pa., but will continue to provide surety coverage to union contractors nationwide. The transition began on July 1, 2011 as Ullico Casualty’s Surety business employees officially became members of the Philadelphia staff.
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