OpenRoad Insurance is entering the niche market of collector vehicle insurance, announcing the formation of a Managing General Agent (MGA) to provide tailored coverage for classic and modern collector vehicles.
The company has secured its license from the Texas Department of Insurance and plans to roll out its services across select US states later this summer.
OpenRoad is led by CEO Richard Hutchinson, a seasoned insurance industry executive with over three decades of experience. Hutchinson’s background includes leadership roles at Progressive, Hagerty, and Forge. The company is backed by majority investor Griffin Highline Capital, with underwriting capacity provided by National Interstate, a subsidiary of Great American.
Richard Hutchinson, CEO of OpenRoad, stated, “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.”
