OpenRoad Insurance has announced its entry into the collector vehicle insurance market with the formation of a Managing General Agent (MGA). This new venture will provide specialized car insurance for classic and modern collector vehicles.
The company has secured its license from the Texas Department of Insurance and is preparing for a launch across select states in the US later this summer.
OpenRoad is led by CEO Richard Hutchinson, a seasoned insurance industry executive with over three decades of experience. His background includes leadership roles at prominent insurance companies like Progressive, Hagerty, and Forge.
Financially, OpenRoad is backed by majority investor Griffin Highline Capital, with underwriting capacity provided by National Interstate, a subsidiary of Great American.
CEO Richard Hutchinson shared his views on the new offering:
“Of the 40 million+ collector vehicles in the United States, the majority are insured by standard auto insurance generalists. Our program is different as it was designed with specialized coverages and services tailored for the unique needs of auto enthusiast owners. We are proud to offer the auto enthusiast community more choice, comprehensive coverage, and the fair pricing that they deserve.”
