Gibraltar Insurance, Ltd. Began operations in May 2019 in order to provide a more customized, affordable and stable insurance alternative for diverse and heavy transportation-related businesses. Its mission is to provide the highest quality insurance protection for its non-related shareholders.
The company is licensed in the Cayman Islands to reinsure risks from the policy issuing company. National Interstate Insurance Company (rated A+ by A.M. Best). National Interstate is licensed and admitted providing coverage to the membership in the United States. The types of coverages reinsured by Gibraltar Insurance, Ltd. are Workers’ Compensation, General Liability, Auto Liability and Physical Damage; Monoline options are available.
Gibraltar Insurance, Ltd. is a homogenous, member-owned group captive whose target risks are best-in-class, safety focused companies including, but not limited to:
- Gas & LP Dealers & Distributors
- Petroleum Distributors, Marketers & Jobbers
- Fuel Oil & Kerosene Dealers & Distributors
- Waste Haulers
- Lumber Haulers
- Gas Stations & Convenience Stores
- Chemical Distributors
- Construction Supplies & Materials Distributors
- Biofuels Distributors
- General Freight
- Fertilizer Dealers and Distributors
- Additional classes may include, CNG, LNG, and more based on market opportunity.
Gibraltar Insurance, Ltd. Facts & Figures (as of 4/1/2024)
Number of Members: 61 members
Annual Premiums: $40.1 million
Captive Retention: $300,000
Lines of coverage: Workers' Compensation, General Liability, Automobile Liability and Physical Damage
A Fund: $0-$100,000
B Fund: $100,001-$300,000
Primary Auto Limits: $2 million
Primary GL Limits: $2 million/$4 million/$4 milllion
Allocated Loss Adjustment Expenses: Capped
Aggregate Excess: Unlimited
Membership Criteria
Because each member of Gibraltar Insurance, Ltd. is an owner, the following criteria has been established to ensure the quality of membership and long-term strength of the Company.
- Management Commitment to Safety and Claims Management
- Financially Strong Company
- Loss Experience Better than Average for Industry Group
- Regular Attendance at Board Meetings
- Business Philosophy Compatible with Gibraltar
- Minimum Annual Casualty Premium of $250,000