TAPCO Underwriters, Inc., a Burlington, North Carolina-based excess and surplus lines managing general agency, is now offering its products and proprietary quoting and binding process to retail agents in Delaware and New Jersey.
TAPCO says its “instant” service model with its proprietary software reduces the insurance quoting and binding process for agents to at most a five-minute phone call.
TAPCO has the binding authority for more than 1,000 classes of business, including all types of general liability; general, specialty, and artisan contractors; property; vacant property and builder’s risk; and dwelling/homeowners, among other lines.
In 2007, TAPCO says it provided over a half-million telephone quotes to 20,000 agents and producers, generating over $200 million in annual revenue.
TAPCO has also implemented a rewards program for agents who bind policies with its underwriters. For each policy an agent binds through TAPCO, the producer receives a bonus commission in the form of a bank-issued debit card that can be used anywhere Visa cards are accepted.
The announcement of its expansion into Delaware and New Jersey was made by TAPCO President Tap Johnson III. The move follows its expansion into California and Texas in 2007. The company began in 1983 with just three people but has since grown to five offices employing 180 people, servicing 8,000 agencies and writing in 12 states.
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