Lodestar Claims & Risk Services: A New Era for Old Republic's TPA Business

In a significant move within the insurance industry, Old Republic International Corporation has announced the establishment of Lodestar Claims & Risk Services, Inc. as an independent entity. This marks a pivotal moment in the company's history, as it's the first time in over three decades that its third-party administrator business has been renamed and restructured to operate under a distinct identity.

A Strategic Shift

Previously functioning under the PMA Companies, Old Republic's third-party administrator (TPA) division offered claims management services, but now, with the emergence of Lodestar, the company aims to enhance its market presence and grow its client relationships. Lodestar is set apart as a top 10 national TPA, providing comprehensive claims administration and risk management services to middle-market and large employers, as well as national carriers. With its operations spanning all 50 states, this strategic realignment reflects Old Republic's commitment to evolving and expanding its operations in the insurance landscape whilst improving visibility in the marketplace.

Craig Smiddy, CEO of Old Republic, expressed his enthusiasm about this launch: “This step reflects our commitment to positioning Lodestar for long-term success. By establishing it as a standalone brand, we aim to amplify its capabilities as a national TPA that can consistently deliver high-quality service to our clients.”

Leadership and Commitment to Service

Michael MacAulay, the newly appointed President of Lodestar Claims & Risk Services, echoed these sentiments. He remarked, “As Lodestar, we have the opportunity to clarify our role in the insurance marketplace, continuing the tradition of excellence and dedicated service that our clients rely on.” The leadership team at Lodestar will remain unchanged, ensuring that clients and partners can continue to depend on the existing professionals and service teams they have worked with in the past.

This transformation is not just a branding exercise; it offers Lodestar the chance to sharpen its focus on addressing complex claims and risk challenges, ultimately strengthening its service offerings. With over 30 years of proven expertise, the company is well-positioned to navigate the complexities of the claims landscape while responding to the specific needs of its clientele.

In the larger context of the insurance sector, Lodestar's launch appears as an inspired response to the growing demands and challenges facing businesses today. As organizations grapple with ever-increasing risks, Lodestar aims to emerge as a trusted partner to clients, redefining how TPA services are delivered and experienced.

About Old Republic

Founded in 1923, Old Republic is a prominent specialty insurer with a comprehensive portfolio that spans property, casualty, and title insurance. As a Fortune 500 member, it has established itself as a leader in underwriting and risk management across the United States and Canada. Old Republic utilizes its expertise in underwriting to craft tailored solutions for its clients, setting itself apart in a competitive industry.

With the launch of Lodestar, Old Republic continues its legacy of innovation and commitment to service excellence. For those interested in learning more, additional details can be found at Old Republic's website.