Main Street America decides to exit personal lines
Main Street America decides to exit personal lines | Insurance Business America
Insurance News
Main Street America decides to exit personal lines
Firm to “fully resource” its commercial lines focus
Insurance News
By
Terry Gangcuangco
Main Street America Insurance has announced a strategic shift, signaling its exit from the personal lines market to focus on commercial lines.
The company, which has been a significant player in the insurance industry for over a century, cited the need to adapt to market changes and capitalize on growth opportunities in the commercial sector.
President and chief executive Chris Listau (pictured) stated: “Main Street America is doubling down on commercial lines and clearly defining our future direction in the marketplace.
“As a trusted and respected brand in the independent agent channel, we’re continuing to move forward confidently in an area that enables us to take advantage of the incredible potential that exists in the commercial lines space. This will further support our agents in solving the unmet needs of small business owners.”
According to the company, which was founded in 1923, the decision to focus on commercial lines will allow it to accelerate product innovation and enhance service capabilities. Recent developments include upgrades to Main Street America’s commercial lines platform and the introduction of new commercial farm and ranch offerings.
Main Street America added that the exit from personal lines will enable it to “fully resource and support this commercial lines focus” as part of the insurer’s continuing evolution.
Richard Vaughn, head of sales at Main Street America, went on to emphasize the benefits of the realignment.
“We’re excited to marry current market opportunities and a refined focus with the independent agency channel’s ability to dominantly handle complicated, complex risks often associated with commercial lines customers,” Vaughn commented.
“We have a tremendous opportunity in front of us, and we’re ready to unleash the full potential of what Main Street America and our appointed agents can accomplish together.”
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