DCAP Group Inc., a chain of independent storefront insurance agencies in the Northeast, has made an investment in Commercial Mutual Insurance Company.
DCAP purchased all $3.75 million of the outstanding surplus notes of CMIC from Eagle Insurance Company. A New York – domiciled property and casualty insurer, CMIC provides various markets to its independent agents, including homeowner, commercial auto, physical damage and others. Incorporated in 1886 and located in Kingston, New York, CMIC counts DCAP and its affiliated entities as long term agent partners.
DCAP also has completed the purchase of four Rochester locations from Accurate Agency. “Geographically expanding our existing footprint to include Western New York State fits in with DCAP’s new business plan. All of Accurate’s staff has been absorbed into DCAP, and given the commonality in our approach to insurance sales, the transition has been very easy,” added Jeanne Egan, DCAP’s VP of Agency Operations.
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