Madison Insurance Company Merging with Accident Insurance Company

By November 26, 2014News

We at Accident Insurance Company hope this letter finds you and your family doing well and that 2014 has been a very successful year for you and your agency.  First of all, we’d like to sincerely thank you for placing your client’s insurance needs with either Madison, or Accident Insurance Companies over the years.  Your continued business is very much appreciated.  We sincerely thank you!

We wanted to make you aware of some recently implemented changes that may affect you and your client.  Madison Insurance Company is merging with Accident Insurance Company and we wanted to share the reasons behind this decision.  This will allow Accident Insurance Company to be more streamlined and cost affective while strengthening its surplus position so we can execute future plans.  One thing we would like to accomplish is increasing our footprint like our recent acceptance into the state of Texas. Secondly, we have been largely a mono-line writer of workers’ compensation, general liability and garage keeper products.  The focus on Accident Insurance Company will allow us to build out both package and multi-line products in the coming year.  This expansion of footprint and product line will give you more tools to fight the competition you battle with each and every day. http://www.accinsco.com/madison-insurance-company-merging-with-accident-insurance-company/ http://www.accinsco.com/madison-insurance-company-merging-with-accident-insurance-company/ http://www.accinsco.com/madison-insurance-company-merging-with-accident-insurance-company/ http://www.accinsco.com/madison-insurance-company-merging-with-accident-insurance-company/ While Madison Insurance Company offered great value to all of us in the past, managing the resources of two insurance companies slows the execution of our business plan.

We are excited about the future of Accident Insurance Company and our partnership with your agency.  In the states where Madison was admitted and licensed, we are currently in the process of doing the same for Accident. Unfortunately, that process can sometimes take longer than anticipated and given the regulators desire to have this completed by the end of the calendar year, there may be unintended consequences.  You may be in a state where Madison Insurance Company is non-renewing your client and Accident is offering an optional quote.  That’s the perfect scenario.  However, in those states where Accident has not yet secured our certificate of authority, we want to provide you with an alternative option for securing a renewal quote for your customer(s).   Accident Insurance Company Underwriters (AICU) is a managing general underwriter and can provide your client with other markets and options.  Their contact information is as follows:

We hope this transition is smooth and that your business continues with much success in the near future.  Please let us know what we can do better and what we can do to make you better.

Sincerely,

Darryl Starkey
Chief Marketing Officer
darryl.starkey@accinsco.com
865-425-7479