Personal Lines Announcement
Dear Valued General Agents,
During the past 12 months my team has been studying the market with an eye towards increasing profitability, becoming more focused and leveraging our risk capital in order to position Topa Insurance Company for a strong, positive future.
In order to reach our goals and continue to provide superior customer service in our chosen markets, we have begun streamlining Topa's product suite and increasing our focus on commercial lines products, including excess liability, general liability, commercial package and monoline property through our wholesale brokerage distribution network. Personal lines is becoming a smaller percentage of our total business at Topa.
Beginning last year, we embarked on a process to reduce our reliance on nonstandard auto insurance. The number of general agents that offer our nonstandard auto insurance has decreased from 8 to 2, and we plan further reductions. While this has given us the opportunity to streamline our operations, it is only the first step in reducing our reliance on personal lines products.
In coming days, Tammy Schwartz will be reaching out to you to further explain our strategy and discuss the discontinuation of the following insurance products:
Comprehensive Personal Liability
We request that you stop writing new business in these lines. We are highly committed to ensuring all our business practices conform not only to the letter of the law, but to the spirit of the law as well. We will honor renewals as required, but urge you to find another carrier for your new business.
We are very appreciative of your support of Topa over the years. Topa's goal is to provide a smooth transition for its distribution partners in this change. We will be in touch with each of you over the next few weeks.
Executive Vice President & CUO
Topa Insurance Group