SAN FRANCISCO, April 12, 2018 /PRNewswire/ -- Great American Insurance Company and RPX Insurance Services, LLC (RPXIS), a wholly owned subsidiary of RPX Corporation (NASDAQ: RPXC), today jointly announced that they have entered into a limited binding authority agreement. Under the terms of the agreement, RPX Insurance Services will underwrite and issue policies on behalf of Great American E & S Insurance Company. Great American E & S Insurance Company holds an A+ (superior) rating from AM Best, last affirmed August 17, 2017.
"Great American's sterling reputation with insurance brokers, as well as proven product development and sales capabilities, makes them an ideal match for RPXIS. We look forward to working with them," said Rob Kingsley, President of RPXIS.
RPXIS began underwriting policies on behalf of an affiliated risk retention group in 2012. In 2014, it established itself as a coverholder with Lloyd's of London. This agreement with Great American is a natural progression of RPXIS's growth, allowing the company to align its underwriting and claims capabilities with a highly-regarded US-based carrier.
"RPXIS leverages its deep industry expertise into a proven ability to help its clients manage risk," said Dave Ferron, Product Management Director, Great American Insurance Group. "We're proud to collaborate with this industry leader."
RPX Corporation (NASDAQ: RPXC) is the leading provider of patent risk and discovery management solutions. Since its founding in 2008, RPX has introduced efficiency in the patent market by providing rational alternatives to litigation, including patent litigation insurance. Using its proprietary actuarial model, RPX Insurance Services, a wholly owned subsidiary of RPX, customizes policies to the specific risk and coverage needs of each insured. RPX policies provide integrated claims management, preferred provider legal services, and case resolution support, thus allowing a company to fully outsource every aspect of dealing with patent risk. More information about RPX Insurance Services and its offerings is available at www.rpxinsurance.com.
ABOUT GREAT AMERICAN INSURANCE GROUP
Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Great American Insurance Company has received an "A" (Excellent) or higher rating from the A.M. Best Company for more than 100 years (most recent rating evaluation of "A+" (Superior) affirmed on August 11, 2017). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG's common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
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Great American Insurance Group
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SOURCE RPX Corporation