Patriot Risk Management Subsidiary Forms 25th Agency-Owned Captive for Workers’ Compensation Insurance

Patriot Risk Management, Inc. (PRMI) announced today that its subsidiary Patriot Underwriters has finalized its 25th new agency-owned captive for workers’ compensation insurance in 2009. Patriot’s new agency-owned captives have generated more than $20-million in new written premium for Guarantee Insurance Company and ULLICO Casualty Company in 2009. Patriot’s agency captive program enables independent insurance agencies to partner with Patriot to share in the underwriting profit produced by their controlled book of business.

“We are pleased to see our agency captive model generating so much interest in the insurance agency community. Agency captives are an ideal vehicle to align production and profit objectives for insurance companies and independent agents,” said Steven M. Mariano, PRMI’s Chairman and Chief Executive Officer. “Insurance agencies with profitable books of business are using agency captives to capture underwriting profit and investment income, instead of relying entirely on commission income.”

“Patriot has developed a market leading insurance product that has clearly captured the attention of progressive insurance agency owners. Their agency captive model is already a significant, sustainable contributor to premium growth,” said Andrew Lerner, Chief Executive Officer of Inter-Atlantic.

PRMI previously announced a stock purchase agreement with Inter-Atlantic Financial (NYSE Amex: IAN). The combined company will be led by PRMI’s management team and will continue to be publicly traded. The closing of the acquisition is subject to approval by Inter-Atlantic’s shareholders and other customary closing conditions and is scheduled to close by October 9, 2009.

About Patriot Risk Management, Inc.

Patriot Risk Management, Inc. (PRMI) produces, underwrites and administers alternative market and traditional workers’ compensation insurance plans, and provides claims services for insurance companies, segregated cell captives and reinsurers. Through its subsidiaries Patriot Risk Services, Inc. and Patriot Underwriters, Inc, PRMI provides workers’ compensation BPO insurance services such as marketing, underwriting, policy management, claims management and captive management services. Guarantee Insurance Company, PRMI’s wholly owned insurance company subsidiary, provides alternative market risk transfer solutions and traditional workers’ compensation insurance plans for employers. For further information, please visit www.prmigroup.com.

About Inter-Atlantic Financial, Inc.

Inter-Atlantic Financial (NYSE Amex: IAN) is a special purpose acquisition company formed for the purpose of acquiring an operating business in the financial services industry. As a special purpose acquisition company, Inter-Atlantic is scheduled to dissolve and liquidate if it does not complete a business combination transaction by October 9, 2009. For further information on Inter-Atlantic Financial, please visit http://www.interatlanticfinancial.com/.

SEC Legends

Inter-Atlantic Financial, Inc. (IAN) has filed with the Securities and Exchange Commission (“SEC”) all applicable documents including a definitive proxy statement filed on September 23, 2009. This definitive proxy statement and other relevant documents are first being mailed to IAN shareholders on or about September 23, 2009. A copy of these filings is available on the SEC website (http://www.sec.gov), and may also be found on the Inter-Atlantic Financial website at http://www.interatlanticfinancial.com/.

IAN and Patriot and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of IAN’s stockholders to be held to approve the proposed business combination. IAN stockholders and other interested persons are urged to read IAN’s preliminary proxy statement and definitive proxy statement in connection with IAN’s solicitation of proxies for the special meeting because these proxy statements contain important information. Such persons can also read IAN’s final prospectus, dated October 2, 2007, its annual report on Form 10-K for the fiscal year ended December 31, 2008 and other reports as filed with the SEC for a description of the security holdings of IAN’s officers and directors and their respective interests in the successful consummation of this business combination. The preliminary proxy statement and definitive proxy statement of IAN contain information with respect to the officers and directors of Patriot. The definitive proxy statement of IAN is being mailed to stockholders as of the close of business on the record date of September 17, 2009. Stockholders are able to obtain a copy of the definitive proxy statement, without charge, by directing a request to IAN at: 400 Madison Avenue, New York, NY 10017. The preliminary proxy statement and definitive proxy statement and the final prospectus and other filings of IAN can also be obtained, without charge, at the SEC website (http://www.sec.gov).

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which the offer, solicitation or sale of securities would be unlawful and may not be offered or sold within the United States in the absence of registration or an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), and applicable state securities laws. Any offers, solicitations of offers to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act or an exemption therefrom. This announcement is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. This press release may contain certain forward-looking statements including statements with regard to the future performance of IAN and Patriot. Words such as “believes,” “expects,” “projects,” "will" and “future” or similar expressions are intended to identify forward-looking statements. Any such forward-looking statements contained herein are based on current expectations, but these forward-looking statements inherently involve certain risks and uncertainties that may cause actual results to differ materially from expectations such as material adverse events affecting IAN and Patriot, the ability of IAN to complete a business combination and those other risks and uncertainties that are detailed in the IAN’s Prospectus and other filings with the SEC. IAN undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.