Harford Mutual Insurance Group Announces Merger Agreement with ClearPath Mutual


Harford Mutual Insurance Group (“Harford Mutual”), a Ward’s 50® top performing commercial property and casualty insurance company headquartered in Maryland, today announced that it has received final approval from the Maryland Insurance Administration of the Merger Agreement with ClearPath Mutual Insurance Company (“ClearPath Mutual”), a monoline workers’ compensation carrier headquartered in Louisville, Kentucky. Under the terms of the Merger Agreement, ClearPath Mutual merged into Harford Mutual Insurance Group and converted to a stock insurer. Post-merger it will be renamed Clearpath Insurance Company marketed as “Clearpath Specialty”. All policyholders of ClearPath Mutual will obtain membership rights in Harford Mutual as policyholders of the newly formed Clearpath Specialty. The merger is effective August 4, 2023.

“This is an exciting step forward in Harford Mutual’s nearly 181-year-old history,” said Steve Linkous, President & CEO of Harford Mutual. “There is a natural synergy between Harford Mutual and Clearpath. Both companies share similar values and missions, and this merger helps both companies achieve their strategic goals of continued state expansion and accelerated growth.”

Linkous added, “We are thrilled to welcome the Clearpath team, agency partners, and policyholders to Harford Mutual and to partner with a successful carrier to broaden our workers’ compensation line and deliver our shared vision of being a regional carrier of choice.”

ClearPath Mutual, formerly KESA of Kentucky for over 40 years, was formed in 2018 and currently provides monoline workers’ compensation coverage in Indiana, Kentucky, Georgia, Tennessee, and West Virginia. ClearPath Mutual writes over $52 million in direct written premium across nearly 7,000 policies.

As part of the Merger Agreement, which was approved by the boards of directors and policyholders of both companies, ClearPath Mutual’s current home office in Louisville will remain in place and serve as Harford Mutual’s Midwest Office. Harford Mutual will retain all ClearPath Mutual employees and plans to merge efficiencies. The newly formed Clearpath Specialty has re-domesticated to Maryland.

Under the terms of the agreement, ClearPath Mutual’s current President & CEO, Jeff Borkowski, will become a vice president of Harford Mutual and remain President of Clearpath Specialty with Steve Linkous becoming CEO. ClearPath Mutual’s Board of Directors will remain intact for two years, with Linkous joining the board as a director. ClearPath Mutual board chair, Sean Garber, will remain on Clearpath Specialty’s board as chair and will join Harford Mutual’s Board of Directors.

“We look forward to joining the talented Harford Mutual team,” said Borkowski. “This merger was a strategic decision for ClearPath Mutual. It unites two purpose-led organizations and allows us to leverage Harford Mutual’s expertise, systems, and successful track record in the multi-line carrier field. We recognized that together we could provide the enhanced service and opportunities to our policyholders, agency partners, employees, and community partners and support ClearPath’s continued growth.”

About Harford Mutual Insurance Group

Harford Mutual Insurance Group, founded in 1842 in Harford County, Maryland, provides commercial property and casualty insurance products and services to a regional market. Harford Mutual, a Ward’s 50® top performing insurance company in 2021 & 2022, that ended 2022 with $327 million in direct written premium sold through independent agents in ten states and Washington, D.C. Harford Mutual is rated A (Excellent) by A.M. Best. For more information, visit www.HarfordMutual.com.

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