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Expanding Tuscano's Underwriting Territory
Newsletter – Tuesday, December 4, 2012
Back in the 80’s, when Bill was running the office, he and I bought a steel mill. Yes, you heard me right. Dad always loved auctions and was a pushover for bargains. We had gone to the auction to see what we could acquire in the way of office equipment for the agency. When the property and buildings came up for sale and no one would bid, naturally Bill did. All I can say is at the end of the day, it was no bargain – the pollution cleanup costs far exceeded any perceived value and we ended up giving it back!
We don’t go to many auctions anymore, and I haven’t bought any super-fund cleanup sites lately, but we have just completed one of the biggest strategic acquisitions ever for the Tuscano Agency. I’m very pleased to report that we recently completed the acquisition of Special Risk Solutions, Inc. located in New Hartford, NY, the brokerage division of Utica Mutual Insurance Company. Beginning Monday December 3, former SRS business will be handled under the Tuscano brand and management. We are fortunate that four of the staff from SRS have joined Tuscano and we are confident that the transition will go smoothly.
There are many positives that will come from this strategic move, one of which is to greatly expand the Tuscano Agency’s underwriting territory. Although we have been writing business in several states for some time, we will now have customers in nineteen states throughout the East Coast and into the Midwest. We are also pleased that most of our companies will be able to support our expansion. As Jinny put it, “Tuscano is no longer a ‘one state wonder’.”
The next time you visit our website, you will notice the new regional presence map on our home page, along with new information on our commercial lines and personal lines product pages, which we have updated to show you the states our products are available in. If you thought Tuscano was only good for writing local business, then think again. We can write your brokerage business in a lot more of the country today than ever before. Of course, please keep in mind that as the retail producer, you must be properly licensed to write business in the home state of the insured.
At Tuscano, we are on a mission to be the best wholesaler in our marketing territory, and that territory just got a whole lot bigger! The days ahead will be filled with challenges and successes. Though we are growing and expanding, our commitment to you and our Tuscano “Can Do It” attitude will remain the same. We are truly focused on being your first and best choice for a regional wholesaler.
I hope we grow together in the coming months and years!
