The Friendly Society People
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Karen N. Basso – Immediate Past President, The Friendly Society Restored
ACI
Senior Vice President
Preferred Reinsurance Intermediaries, Inc.
Columbia, SC
Contact Karen: kbasso@preferredre.com
Karen joined Preferred Reinsurance Intermediaries’ predecessor company, Associated Intermediaries – SC, Inc. (AISCI), in 1985 as Assistant Vice President. In 1988, the employees of AISCI bought the South Carolina operation from its parents, and renamed the company Preferred Reinsurance Intermediaries, Inc. Karen is a principal of the firm and a member of the Board of Directors. She focuses on developing specialty insurance program business and providing reinsurance and fronting paper for alternative risk entities. She began her reinsurance career in 1974 with Towers, Perrin in the New York Branch Office. Karen subsequently worked in various positions with U.S. Liability Insurance Company and The Home Insurance Company in New York City. She joined Allstate Insurance Company’s Reinsurance Division in 1979 as an Account Underwriter. Allstate transferred her to the home office in Chicago, Illinois, to head the Property Facultative Binding Authority unit, and subsequently transferred her to the Boston branch office to serve in the position of Assistant Manager, Property Facultative. Karen has a B.A. degree with honors from Colgate University, and earned the Associate in Captive Insurance Designation in 2009.
Preferred Reinsurance Intermediaries, Inc. – Columbia, SC
Preferred Reinsurance Intermediaries, Inc. is 100% independently-owned by its employee-shareholders. Preferred is principally a full-service, multi-line reinsurance intermediary and program broker, but has a growing practice in the area of working with alternative risk entities (captives, RRGs) to help find the right fronting company and reinsurance partners to assist them in reaching their business goals. Preferred Reinsurance Intermediaries, Inc. trades with highly-rated domestic insurance carriers as well as with Lloyds, European Union, Bermudian and other financially sound non-U.S. markets. When you decide to work with us, you will partner directly with key employees and company principals. In addition to the Home Office in Columbia, SC, we have branch offices in New York, New Jersey, Pennsylvania, and Illinois.
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