Pacific Mutual Life was founded in 1868 by former California Governor, Leland Stanford in Sacramento, California. He quickly adds, "However, no one wants to feel he is being gouged either. It is perhaps best known as a large writer of motorcycle insurance in the … The company offers the following personal lines products in California, Texas, Georgia and Arizona: auto, motorcycle, umbrella, personal watercraft, mobile home and homeowners. Have a specific hard to find market request? Stay up-to-date on the latest news and developments! Total assets are $115.5 million with a policyholder surplus of $57.5 million. See BBB rating, reviews, complaints, request a quote & more. Pacific Specialty, a CA admitted insurance company and part of the McGraw Group, specializes in personal lines property insurance, including Homeowners, Dwelling Fire, Vacant/Seasonal, Condo/Townhouse, Renters, Mobile Home and Earthquake. Together with Western's Gap Protection Program, Western's F&I products allow licensed motorcycle and personal watercraft dealers to establish long-term relationships with their customers beyond the initial sale of the unit by providing this extended coverage. It has all aided in the profitable bottom line and allowed us to never have a year when we've lost money.". He says it is evidence of the company's stable operating profitability led by profitable underwriting operations. Sign up for a free account to get access to this and many other features. Working through retail and wholesale brokers and MGUs, we service a broad range of clients from large multinationals to small businesses through our U.S., Bermuda and European platforms. Already have an account? The carrier strives to be a leader nationwide in writing motorcycle and personal watercraft coverage. It provides insurance services mainly to Australia, North America, Europe and Asia Pacific region. ", Right now all things are looking up, but every time we go through a cycle, we still get bigger and bigger, and fewer agents leave us. Family tradition is as important in today's society as ever. Pacific Specialty offers homeowners insurance and a variety of other coverages. McGraw and PSIC are quick to recognize independent agents as their customers. © 2020 by Wells Media Group, Inc. All Right Reserved. McGraw's father was a self-made entrepreneur and successful businessman who left a top-level position at age 46 to start what was then the McGraw Group, but later evolved into Pacific Specialty Insurance Company (PSIC). "You build loyalty through good times and bad, and there is a certain amount of loyalty and respect among independent agents and organizations like ourselves. Management. During the 1990s, several insurers seemingly forced agents to do business with them in the manner that the carrier enforced. "We've always been the largest writer of motorcycle insurance in California," McGraw says. Our Mission Our size allows us to be large enough to be competitive and small enough to care. "When the market is soft, we'll write less premium," he says. *. We offer attractive commissions and specialize in liability and physical damage coverages for transportation risks that are more difficult to place in the standard market. The McGraw Group, started by Mike McGraw's father, Jack, in 1976, became primarily a carrier in 1989, and absorbed all agency business into it. Specializing in Quality Medical Care. We're one of the most profitable in the U.S. by margin.". Palomar Specialty is committed to providing our policyholders with stable insurance options for personal and commercial catastrophe risks. McGraw said it is currently looking closely at doing business in Michigan, Ohio, and Pennsylvania, in the fall of 2002. public entities, construction risks). It is championed in rock and roll via the current "Family Values Tour," and among sports teams that adopt the We Are Family song made popular by Sister Sledge. Wholesale Brokerage. PSIC's annual direct premiums written exceed $60 million. Equipment Breakdown; Availability 3 states. public entities, construction risks). It also has a Southern California satellite office that houses about 80 employees located in Anaheim, California. Commercial Motor Crisis Management Pacific Gateway Insurance Agency is able to provide the resources of a large insurance company with the personal touch of a small agency. What can you expect when you come to Pacific Medical Centers? McGraw concludes by stating that if the system is not broken you should work to maintain it, not to fix it. He started with the company working in the file department when he was 11 years old. UFG Insurance is a publicly traded company and has been listed on the Nasdaq Stock Market under UFCS for three decades. BBB accredited since 2016-02-19. If you are looking for an insurance provider for Sports, Recreation, and Entertainment insurance, you have come to the right place. Pacific Gateway Insurance Agency is able to provide the resources of a large insurance company with the personal touch of a small agency. In 1994, we began exclusively offering insurance contracts. The Seattle Specialty Insurance Services difference is Service. Ryan Specialty Group is an international specialty insurance organization that provides innovative solutions for brokers, agents and insurance carriers. We hold a financial strength rating of “A” (Excellent) from A.M. Best Company with a financial size category of XI ($750 million to $1 billion) and rank 76 on the list of Top 200 U.S. Property Casualty Writers in the 2019 Best’s Review. Mike McGraw is grass roots and legacy to the heart. Catastrophe Coverage When You Need it Most. Currently, McGraw plans to roll out its "One Spot," core campaign to two or three new states in the United States every year and half. The Company offers property, casualty, life, and health insurance services. "Cycles are getting shorter and the typical independent agent realizes it is way too costly to move business when markets soften. Our principal focus is specialty Property and Casualty insurance, Surety and Accident and Health insurance. Scottsdale Insurance Company (dba Nationwide E&S/Specialty) insures the riskier parts of life, business, and everything. Western Service Contract Corporation offers additional protection beyond the manufacturer's warranty. Flood Insurance. "It is eight girls and a boy there, so hopefully one of them will step to the forefront in the future." Personal watercraft is written in all states. But it's run differently than most insurance companies. Wholesale Brokerage. "We've overcome our biggest challenge in California, and that is achieving an underwriting profit," says McGraw. They can do it how they feel comfortable. It speaks for our professionalism and customer service. Learn more. With an underwriting focus solidified in its yearly business plan, McGraw Group's underwriters consider virtually every risk on a detail-by-detail basis, assuring that it gets appropriate premium for the true exposure. Recovery. Save your favorite listings and companies with a single click! Venture Pacific Insurance Services, Inc. (VPIS) VPIS specializes in personal insurance, business insurance, risk management services and financial management services. Underwriting and higher level underwriting decisions, processing, customer service and data entry are all managed in Anaheim. He says that Pacific Specialty is now one of the top 25 writers of homeowners protection, based on written premium, in California. Global Reinsurance. So, when it comes to personal lines we call ourselves the 'one spot.' In addition to Roanoke Group, MRSG owns Munich Re Syndicate Limited, which manages Syndicate 457 at Lloyd’s, and a network of distribution companies including GJW Direct, NMU Specialty, RIBL as well as Syndicate offices in Asia Pacific and the Middle East. There are nine grandchildren working their way through various levels of the educational system, and they could eventually take over the reins. Whether you are a small-to-medium sized business, or a Fortune 1000 company, our team will identify the bespoke insurance solutions to give you peace of mind. And with California being its home and a major part of its market, there have been some challenges here. McGraw says that Menlo Park is essentially operations headquarters for management of claims, management information systems, product development, and accounting departments. All states. In 1973, QI and B&T merged and took the name QBE Insurance. We are the largest specialty distributor of property, casualty and professional lines insurance products (e.g. Thank you for your review. Eighty percent of independent agent customers are looking for value, even if they know they might not be paying the absolute lowest." John McGraw, Mike's brother, worked for the McGraw Group until 1996. Pacific Select Property was acquired in February 2000 by The St. Paul Companies and was included in the acquisition of the CATRisk division from St. Paul Travelers by GeoVera Holdings, Inc. Sign up for a free account to get access to this and many other features. ARI is dedicated to providing insurance products that offer quality protection, competitive prices, outstanding service both before and after the sale - including prompt and fair claims settlement and financial stability. Liberty Mutual Insurance has completed its acquisition of specialty insurer Ironshore Inc., creating a global specialty business with approximately $6.5 billion in net written premium. Mike McGraw (seated) credits his executive team with contributing to family values and family success. We offer attractive commissions and specialize in liability and physical damage coverages for transportation risks that are more difficult to place in the standard market. According to Mike, John is an entrepreneur with the vision, desire, and management execution skills to start companies and turn them over to others to run. "A certain percentage will always go to established direct writers or the youthful Internet, but we're trying to close those margins.". She and her husband adopted a baby girl in 2001. Visit our Hurricane Resource Center for a list of emergency resources and more.. Security. We've been slowly expansive. Based in Menlo Park, California, a southern west bay suburb of San Francisco, McGraw Group moved to this location in 1989. Yes, Pacific Specialty is an insurance company. After PSIC was established, he says, it lost maybe 70% of its agents during the first cycle; during the following cycle, about 50%; but in the most recent, the number has reduced to about 30%. "The perception is dying that all customers always have to find the lowest rates," McGraw adds. By 1890, QI had established more than 36 agencies in locations including London, Hong Kong, Singapore, New Zealand and the Pacific Islands. But who in the independent agent system doesn't face challenges that tend to rise and decline? Everything was rolled into the carrier company. Licenses Learn More. McGraw says that the group eventually entered the homeowners market heavily, in the wake of opportunity that occurred following the 1994 Northridge, California, earth-quake. ... and Asia Pacific. We underwrite a wide range of risks for large corporations, small businesses, not-for-profits, and individuals. 1 office location Service. We went from that slowly and added personal watercraft, jet skis, etc., and specialized type risks.". And what about the family business future? "Getting the right premium for the developed, true exposure is a tried-and-true concept," he adds. Since 1957, we’ve worked with independent agents, wholesale brokers and retail brokerage partners to deliver the very best products for niche markets. "After starting out as an insurance agency, we founded the insurance carrier portion of the company in 1989. Because policyholders are the priority. However, it specializes in niche commercial package products, including used automobile dealers, beauty shops, nail salons, cleaning and landscaping contractors, agriculture, and service station packages. "This success has distinguished us from others. By offering our products through an exclusive network of qualified agents, brokers, wholesalers and program administrators, we can ensure our policyholders receive knowledgeable service for their catastrophe exposures. As a mutual, we offer our policyholder and broker partners three key advantages: Acquisitions of strong, specialized insurance companies, action sports companies and other service-related businesses you purchase Flood insurance insurance! 11,700 employees in 27 countries worldwide based on written premium and market capitalisation offered in South.... Into the size of its market, there have been some challenges here so one. Products and in our diverse Specialty capabilities across products and in our Specialty. Programs designed specifically for security guard companies, action sports companies and other service-related businesses nine... 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