General Info

Paramount Insurance Company is a part of Magna Carta Companies, which is a commercial lines insurance carrier in New York. Founded in 1925 as public service mutual insurance carrier for the taxicab industry, the parent company is one of the largest mutual insurance companies in the United States. Magna Carta Companies specializes in underwriting the commercial real estate industry. The parent company offers property and liability protection services. It also provides commercial automobile, garagekeepers liability and commercial umbrella liability coverage options. The parent company serves various small-and medium-sized businesses. It operates Public Service Mutual Insurance Company and Western Select Insurance Company.