Fair American Insurance and Reinsurance

What Fair American Insurance and Reinsurance does

Fair American Insurance and Reinsurance Company (FAIRCO) is a U.S. specialty insurance and reinsurance carrier headquartered at One Liberty Plaza, 165 Broadway, New York. Founded in 1985 and repositioned in 2011 under its current name, the company operates as a wholly owned subsidiary of TransRe (Transatlantic Holdings, Inc.), itself part of the Berkshire Hathaway family of companies. FAIRCO distributes through a dual-carrier structure: FAIRCO (NAIC 35157), a New York-domiciled admitted carrier licensed in all U.S. states and D.C., and Fair American Select Insurance Company or FASIC (NAIC 15201), a Delaware-domiciled surplus lines carrier. The company is also a U.S. Treasury Certified Surety Company.

FAIRCO's product portfolio spans ten specialty lines: Excess Casualty, Excess Ex-CAT Property (the FLeXX program in Florida), Lawyers' Professional Liability, Medical Malpractice (delivered through The Psychiatrists' Program via PRMS and the Psyche program for psychologists), Medical Stop Loss, Miscellaneous Professional Liability, Management Liability (D&O, EPL, Fiduciary, E&O), Railroad Protective Liability, and Non-Standard Contract and Commercial Surety. Products are not marketed directly to end customers; instead, distribution is conducted exclusively through a curated network of specialized program administrators (PRMS, Balance Partners, May Specialty, ATRI, Allstar Surety, Rockport Benefits, Psyche) and licensed producers who are compensated via base and contingent commissions.

Revenue is generated through insurance premiums and reinsurance assumptions, with the company writing business across admitted and non-admitted paper depending on state and product line. There is no proprietary technology stack disclosed; the company operates as a traditional specialty carrier with web-based customer service and policy management. The business is run by a 'small, focused and highly skilled group of insurance professionals,' and recognition includes The Insurer's 2024 Program Insurer of the Year Award, AM Best Superior, and S&P A ratings.

Name

Fair American Insurance and Reinsurance

Legal name

Fair American Insurance and Reinsurance Company

Website

https://fairco.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Fair American Insurance and Reinsurance Company (FAIRCO) is a specialty insurance and reinsurance carrier distributing through program administrators and licensed producers, offering professional liability, excess casualty, surety, medical stop loss, and management liability products to niche professional classes and specific industry verticals across the United States.

Ownership category

akta.pro rank

Product category

Specialty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

akta.pro primary industry

Commercial Excess Liability (Large Accounts) (FSAJANAG)

Keywords

• Specialty insurance programs
• Medical malpractice insurance
• Excess casualty coverage
• Commercial surety bonds
• Management liability insurance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Insurance Premium Revenue: FAIRCO earns revenue through insurance policy premiums. The company sells specialty insurance products including Excess Casualty, Excess Ex-CAT Property, Medical Malpractice, Management Liability, Railroad Protective Liability, Surety, and Medical Stop Loss. Base commission is paid to producers for each policy sold and serviced.
2. Reinsurance: As both an insurance and reinsurance company, FAIRCO provides reinsurance capacity and may assume risk from other carriers. The company is a wholly owned subsidiary of TransRe (Transatlantic Holdings, Inc.), a leading global reinsurer.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Fair American Insurance and Reinsurance Company (FAIRCO) is a specialty insurance carrier that underwrites niche insurance products and programs through specialized program administrators and licensed insurance producers. Its portfolio spans excess casualty, excess ex-CAT property, lawyers' professional liability, medical malpractice for psychiatrists and psychologists, medical stop loss, miscellaneous professional liability, management liability, railroad protective liability, and non-standard commercial surety bonds. The company operates through a dual-carrier structure (FAIRCO for admitted paper and FASIC for surplus lines) and is a wholly owned subsidiary of TransRe within the Berkshire Hathaway family of companies.

Product overview

Fair American Insurance and Reinsurance Company (FAIRCO) is a specialty insurance company offering a portfolio of insurance products and programs primarily through partnership arrangements with specialized program administrators. The product portfolio includes Excess Casualty, Excess Ex-CAT Property, Lawyers' Professional Liability, Medical Malpractice (Psychiatrists and Psychologists programs), Medical Stop Loss, Miscellaneous Professional Liability, Management Liability, Railroad Protective Liability, and Surety products. Products are distributed through wholly owned subsidiaries: Fair American Insurance and Reinsurance Company (NAIC 35157, licensed in all U.S. states) and Fair American Select Insurance Company (NAIC 15201, surplus lines insurer). FAIRCO is a subsidiary of TransRe, which is a member of the Berkshire Hathaway family of companies.

Differentiator

Problem solved

Functional benefit

Brands

• FAIRCO: Logo and trading name utilized for Fair American Insurance and Reinsurance Company.
• Psyche
• The Psychiatrists' Program

Products and services

• Excess Casualty Excess casualty insurance providing lead or higher excess coverage to construction, real estate, hospitality, sports and entertainment, manufacturing, and public entity industries. Administered through May Specialty with wholesale broker distribution.
• Florida Excess Ex-CAT Property (FLeXX) Florida Excess Ex-CAT Property Insurance Program providing excess coverage to commercial real estate risks such as condominiums, apartments, retail shopping centers, and offices, with non-admitted A++ XV capacity for limits up to $15M. Administered by Balance Partners, LLC.
• Lawyers' Professional Liability – Excess & Primary Professional liability coverage for mid-size law firms with 10 to 50 attorneys, providing excess and primary coverage with limits up to $5MM per occurrence and $10MM aggregate. Underwritten through ATRI Insurance Services LLC.
• Medical Malpractice – The Psychiatrists' Program Psychiatry-specific medical professional liability insurance offering comprehensive coverage, tailored policies, risk management expertise, telepsychiatry coverage, and in-house claims handling for psychiatrists and behavioral healthcare group practices. Administered by PRMS.
• Medical Malpractice – Psychologists / Psyche Psychology-specific professional liability program offering comprehensive coverage for psychologists with tailored coverage options, online policy access, and in-house claims handling. Covers individual practitioners, group practices, students, and academic researchers.
• Medical Stop Loss Medical stop loss insurance for self-insured employer benefit programs including Third Party Administrators, Brokers, and Administrative Service Only programs. Offers specific, aggregate, and terminal liability options available in all 50 states and DC. Partner program administrator is Rockport Benefits.
• Miscellaneous Professional Liability Excess and primary professional liability coverage for small to middle-market companies including MPL E&O and E&O/Cyber blend coverage with limits up to $5MM. Underwritten through ATRI Insurance Services LLC.
• Management Liability – Excess & Primary Management liability coverage for Public, Private, and Not-for-Profit companies including excess Directors and Officers Liability, Fiduciary Liability, Employment Practices Liability, and Errors and Omissions Liability. Underwritten through ATRI Insurance Services LLC.
• Railroad Protective Liability Railroad Protective Liability insurance to satisfy contractual requirements of third parties performing work on, for, or near railroad property, with limits of $2M per occurrence / $6M aggregate or $5M / $10M aggregate. Administered by Balance Partners, LLC.
• Surety Non-Standard Contract and Commercial Non-standard contract and commercial surety program providing bid bonds, license/permit bonds, maintenance bonds, payment bonds, performance bonds, court bonds, fidelity bonds, and probate bonds. Administered by Allstar Surety since 1965. FAIRCO is a U.S. Treasury Certified Surety Company.

Segments7 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Professional Risk Management Services (PRMS)coreChannel Partner/ Reseller/ DistributorPRMS is the program administrator for FAIRCO's Psychiatrists' Professional and Business Liability Program (The Psychiatrists' Program). PRMS provides nationwide coverage, practice-specific expertise, claims handling, and risk management services for psychiatrists and behavioral healthcare group practices.
• Balance Partners, LLCcoreChannel Partner/ Reseller/ DistributorBalance Partners administers FAIRCO's Florida Excess Ex-CAT Property Insurance Program (FLeXX) and Railroad Protective Liability Program. The company provides excess coverage solutions to commercial real estate risks in Florida and RPL insurance for railroad-related work.
• May SpecialtycoreChannel Partner/ Reseller/ DistributorMay Specialty serves as program administrator for FASIC's Excess Casualty Program, providing lead or higher excess coverage to construction, real estate, hospitality, sports, entertainment, manufacturing, public entity and other industries through wholesale broker distribution.
• ATRI Insurance Services LLCcoreChannel Partner/ Reseller/ DistributorATRI underwrites FAIRCO's Management Liability, Lawyers' Professional Liability, and Miscellaneous Professional Liability Programs. ATRI provides excess and primary coverage solutions with over 40 years of underwriting experience in lawyers' professional liability.
• Allstar Surety CompanycoreChannel Partner/ Reseller/ DistributorAllstar Surety (a division of Allstar Financial Group) administers FAIRCO's Non-Standard Contract and Commercial Surety Program since 1965. Provides bid bonds, license/permit bonds, maintenance bonds, payment bonds, performance bonds, and court bonds. U.S. Treasury Listed as a Certified Company.
• Rockport BenefitsminorChannel Partner/ Reseller/ DistributorRockport Benefits serves as a program administrator partner for Medical Stop Loss products, providing coverage for self-insured employer benefit programs.
• TransRe (Transatlantic Holdings, Inc.)coreStrategic or Co-development PartnerTransRe is the parent company of FAIRCO and FASIC. TransRe is a leading global reinsurer headquartered in New York, offering capacity, expertise, and creativity for treaty and facultative reinsurance across property, casualty, and specialty risks. Transatlantic Holdings, Inc. is a member of the Berkshire Hathaway family of companies.
• PsychecoreChannel Partner/ Reseller/ DistributorPsyche is the program brand for FAIRCO's Medical Malpractice coverage for Psychologists. Psyche provides psychology-specific insurance with tailored coverage options, online policy access, and in-house claims handling for individual practitioners, group practices, students, and academic researchers.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/fairco
• LinkedInlinkedin.com/company/fair-american-insurance-reinsurance-co

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fair American Insurance and Reinsurance