News

Western Pennsylvania is home for me and most likely will be for the rest of my life. My family is here, my work is here, and my sports teams are here. I know that may not be a particularly popular statement to make to our friends and customers in say, Cleveland, Buffalo, or the Carolinas, but that is the nature of sports and why we enjoy friendly competition.

September has been a roller-coaster ride for those of us in the Pittsburgh region. We have watched our Pittsburgh Pirates wrap up a great season that was fun to watch and make it to the play-offs for the first time in 20 years! I hope I am not jinxing them by celebrating too early – the road to the division finals means they have an all-important one game wildcard duel with the Cincinnati Reds.

On the other hand, our typically dominant Steelers have posted their worst starting record since 1968. It is painful to watch this football team stumble (fumble), but the Steelers organization is a phenomenal franchise made up of great people, so we expect they will turn things around. Everyone has an off year from time to time – right?

Like a football franchise, from time to time some insurance companies will also have a tough year. When they do, it can be disconcerting (if you are a fan) or gleeful (if you are not). As we head into the last quarter of 2013, many in the industry are questioning what kind of ‘record’ they’ll end up with. There is churn in the market across many lines, including some of the carriers we have business with. The good news is Tuscano is getting good support from some extremely reputable carriers and we have alternative markets to tap into, perhaps (we are optimistic) with even better opportunities ahead. I like to think that there is a silver lining – something like a first round draft pick or a new market to write contractors or hospitality business!

Along these lines, you may have seen our web bulletin posted last week about Founders Insurance Company being downgraded by A.M. Best. Additionally, Founders has almost simultaneously ceased writing Liquor Liability in Pennsylvania, West Virginia, and three other states. So yes, they will be sending non-renewal notices starting in December, but the good news is Tuscano has more than a few alternatives to place this business. You can bet this will not impede our ability to write new restaurants and liquor business, nor our ability to remarket these renewals.

A great organization combines talent, discipline, commitment, and service values. That is the organization we at Tuscano aspire to build; a franchise that builds value over the long run and has a winning record that will keep you rooting for us!

Love you Bucs!