May 21, 2024 | Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this summer.
National Interstate Insurance Company, a member of Great American Insurance Group, will provide underwriting capacity to OpenRoad. Great American has made an equity investment in OpenRoad, capitalized by majority investor Griffin Highline Capital.
"Of the 40 million-plus collector vehicles in the United States, the majority are insured by standard auto insurance generalists,” said Richard Hutchinson, CEO of OpenRoad. “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.”
Hutchinson is an insurance industry veteran with over three decades of experience including executive leadership roles at Progressive, Hagerty, and Forge. He was president at Hagerty for nearly 6 years.
Another two former Hagerty employees—Scott Johansson and Bryan Ballatore—were recently hired by OpenRoad.
Johansson was named OpenRoad’s vice president of insurance operations. He spent 18 years at Hagerty, most recently as senior regional product manager. Ballatore left Hagerty after seven years to become OpenRoad’s chief revenue officer.