American Modern and GuideOne Finalize Transfer of Motorsports Business

American Modern Insurance Group, a wholly owned specialty insurance subsidiary of The Midland Co., has finalized its agreement with GuideOne Insurance to reinsure and service Des Moines, Iowa-based insurer’s motorsports products, with plans to migrate the business to their own paper within the next 18 months.

The companies struck a tentative agreement in August to provide uninterrupted service to agents and policyholders in GuideOne’s motorcycle, watercraft and snowmobile lines after GuideOne announced plans to phase out its motorsports products. Once appropriate contracting and licensing requirements are met, the motorsports products will be available to current American Modern agents.