Accredited business insurance

Overview

Accredited is a program carrier, which it calls a "program manager." It lends its insurance licenses and A- (Excellent) rating to managing general agents (MGAs), which underwrite, sell and service the business, and it passes most of the risk to reinsurers through long-term proportional (quota share) treaties. Accredited says MGAs are its only distribution channel. If your declarations page names Accredited Surety and Casualty Company or Accredited Specialty Insurance Company, an MGA program put you there.

The NAIC's ACCREDITED INS HOLDINGS GRP ranked No. 88 among U.S. business insurers by 2025 commercial lines direct premiums written, with $781.5 million, based on NAIC market share data, about 0.16% of the national commercial market. It is not among the 10 largest writers of any single commercial line nationally. Unlike most fronting carriers, its largest commercial line is commercial auto ($240.0 million), followed by other liability ($180.1 million), fire ($146.0 million) and package policies (commercial multiple peril, $118.8 million).

The U.S. business, branded Accredited America and run from Orlando, uses two insurers:

• Accredited Surety and Casualty Company, Inc.: the admitted insurer, domiciled in Florida (NAIC 26379).
• Accredited Specialty Insurance Company: the excess and surplus lines carrier, domiciled in Arizona (NAIC 16835).

Between them they write in all 50 states and D.C. Outside the U.S., Accredited Insurance (Europe) Limited in Malta and Accredited Insurance (UK) Limited in London provide the same service to European and UK MGAs. The holding company, Accredited Insurance Holdings Inc., has been owned by funds managed by Onex Partners, the private equity arm of Toronto-based Onex, since June 2024. William Spiegel is CEO and Grace Meek is president of Accredited America.

History

Accredited's U.S. company is older than the program business it runs today:

• 1971: Accredited Surety and Casualty enters the bail bond business.
• 2009: It stops actively writing direct non-contract commercial surety bonds, though it still services existing bonds and claims.
• March 2019: Its bail book is transferred to Crum & Forster, which now handles bail administration and run-off. See Crum & Forster.
• Under R&Q: Randall & Quilter (R&Q), the Bermuda legacy and program specialist, owns Accredited and builds it into a transatlantic program management business.
• July 2023: AM Best begins rating Accredited as its own rating unit, separate from R&Q.
• October 2023: R&Q agrees to sell Accredited to Onex.
• June 28, 2024: The deal closes for $420 million in cash, after R&Q was placed into provisional liquidation in Bermuda. Enstar reinsures about $234 million of Accredited's legacy reserves, including asbestos, general casualty and workers' compensation exposures, and takes over administration and claims handling for that business.

Business insurance products

Accredited doesn't design products. Each MGA builds and prices its program within the authority Accredited grants. Accredited's job is to provide the licensed, rated paper, oversee underwriting and claims through data, and place the reinsurance. It says it looks for MGAs with strong track records, high-quality management and differentiated or niche underwriting, and it aims to keep its book balanced by geography and class.

The NAIC numbers show where the U.S. programs concentrate:

• Commercial auto: the biggest line, at $240.0 million.
• Liability, property and package programs: other liability, fire and commercial multiple peril.

Accredited doesn't name its auto programs. If your fleet policy comes from an MGA, the declarations page shows whether Accredited is the issuing company. See program business: niche insurance through program administrators and fronting arrangements and fronting carriers: how they work.

Who it insures

Whoever its MGA partners target. The admitted company serves standard-market programs. Accredited Specialty takes non-admitted programs, which need a licensed surplus lines broker. Accredited doesn't publish a list of its programs, so the only reliable way to know is your declarations page. If you run a trucking company or another fleet, know that commercial auto has been a volatile line for fronting carriers. Obsidian, for example, had to strengthen its commercial auto reserves in 2023. Program capacity can move between carriers at renewal.

How to buy

You can't buy from Accredited directly. The path runs like this:

1. Your retail agent, often through a wholesale broker, submits your business to an MGA.
2. The MGA quotes, binds and issues the policy within its authority.
3. The policy is issued on Accredited paper.

The MGA or its administrator handles billing, endorsements, certificates and loss runs. Accredited America runs a program management customer service line, 800-432-2799, and email, [email protected]. Before you bind, ask:

• whether the policy is admitted or surplus lines (surplus lines policies generally fall outside state guaranty fund protection);
• who adjusts claims;
• what happens if the program changes carriers.

Claims

Accredited outsources claims handling to third-party administrators (TPAs) chosen as specialists in each program's line and industry. Start with the claims representative named in your policy. You can also report directly to Accredited America:

• Phone: 888-668-2791 toll-free, or 407-629-2562.
• Fax: 407-629-4553.
• Email: [email protected].
• Mail: Attn: Claims Department, P.O. Box 140854, Orlando, FL 32814-0854.

Accredited's claims page also asks claimants to complete a notarized proof of claim form, with a separate version for California residents. Claims on legacy business reinsured to Enstar in 2024 are administered by Enstar. Suspected fraud goes to Accredited's special investigations unit, run by Argus West, at 800-944-2748.

Financial strength and ratings

In August 2024, AM Best removed Accredited's ratings from under review and affirmed the A- (Excellent) financial strength rating of Accredited Specialty Insurance Company, Accredited Surety and Casualty Company and Accredited Insurance (Europe), with a stable outlook. It raised the Financial Size Category to IX on the consolidated group. AM Best rated the balance sheet very strong, with risk-adjusted capitalization at the strongest level of Best's Capital Adequacy Ratio, and operating performance adequate. It rated the business profile limited and enterprise risk management appropriate. AM Best affirmed the ratings, with stable outlooks, in September 2025 and assigned the same A- rating to the new UK insurer. Accredited's website shows A- (Excellent) and Financial Size Category IX as of October 2026. No S&P, Moody's or Fitch ratings are published.

The ownership story matters for context. Under R&Q, Accredited's ratings were tied to a parent that entered provisional liquidation in Bermuda in 2024, after the Bermuda Monetary Authority raised concerns about its reserves. The Onex sale and the Enstar reinsurance of legacy reserves separated Accredited from those problems, and AM Best now rates it on its own.

Strengths and weaknesses

Accredited is an established, A- rated program carrier with admitted and surplus lines paper in every state and a private equity owner since 2024. Your experience depends mostly on the MGA and its claims administrator.

• Strengths: It offers admitted and surplus lines paper in all 50 states and D.C., plus UK and European carriers for MGAs that work on both sides of the Atlantic. AM Best ranks its risk-adjusted capital at the strongest level, with Financial Size Category IX. Legacy reserves were transferred to Enstar in 2024. It publishes direct claims and customer service contacts, which many fronting carriers don't.
• Weaknesses: You can't buy, quote or service a policy with Accredited directly, and it doesn't list its programs. Commercial auto, a volatile line, is its largest U.S. class. Claims are outsourced to TPAs, so quality varies by program. Private equity ownership means another sale is likely at some point, and a program can move to another carrier at renewal.

How to contact Accredited