National Auto & Casualty, operating since 1919, has been forced to terminate operations by the CA Dept of Ins. effective 5/23/02. They weren't a large company, but it indicates how bad the CA market has become. Much of the preferred auto business is moving toward MCY because the company is stable, affordable, and have a good reputation in California.
Met with our MCY rep yesterday .... George Joseph is positioning the company and setting internal goals to increase from 10% of the CA Auto market to 20% in 2-3 years .... $4 B + written premiums. I like what I hear about the new technologies in Beta that are going to help us reach that goal. New developments on that front every week month. Looking good.
At the rate AAA, Hartford, State Farm, Allstate, 21st Century and other carriers are losing policyholders just running thru our office in So Cal - gonna be a banner year for MCY.
Just gotta love GJ and MCY appointment during the Hard Market.