Tapco Underwriters Inc., a managing general agent/wholesaler in the excess and surplus market, has announced it will be expanding into California and Texas. Offices will open in Los Angeles and HOuston on July 9, according to Tap Johnson III, president.
Industry veterans Bill McCord, Ken Schneider and Chris Reisdorf, formerly of Burns & Wilcox, will lead Tapco’s expansion, the company said.
Johnson said the company has big expectations for the two new offices, as both California and Texas represent the largest E&S markets in the country. Each alone could potentially double the company’s premium revenue ($200 million in 2006), he indicated. Until now, the company has operated mainly in the eastern and southeastern states.
Key to the company’s growth is its instant service model, which allows it to quote and bind policies over the phone in a five-minute phone call, according to the company.
Tapco was founded in 1983 in Burlington, N.C., by Tapley O. Johnson Jr. The copany specializes in E&S for commercial and personal lines accounts, writing property, general liability, inland marine, dwelling and homeowners, vacant and builder’s risk, liquor liability, general, specialty and artisan contractors, and other lines.