Insurance

Former National City Insurance Agencies Sold to Independent Owner

  2009 MAR 20 - (VerticalNews.com) -- An independent holding company owned by an insurance industry veteran has purchased Harbor Insurance Agency and Florida Consolidated Agency, both former wholly owned subsidiaries of National City Bank. National City acquired the two agencies in conjunction with their 2006 and 2007 acquisitions of Fidelity Federal Bank & Trust and Harbor Federal Bank.

  The two property and casualty insurance agencies, which operated in eight eastern Florida coast locations, will be consolidated into one new organization, Harbor Insurance. Former Florida Consolidated Agency offices located in Juno Beach and Greenacres will be absorbed into a new West Palm Beach office. The former Harbor Insurance Agency locations in Palm Bay and Palm City will be consolidated with the existing Vero Beach office. Harbor Insurance will also continue to operate existing offices in Fort Pierce and Port St. Lucie, for a total of four locations.

  Former Harbor Insurance Agency President David Willbur and former Florida Consolidated Agency President Bill Lay will remain in leadership roles with the new company. Lay will remain a president and focus on personal lines and the West Palm Beach locations. Willbur will remain a president and manage commercial lines and the St. Lucie County locations.

  "Our focus going forward is to create a nimble company that is well-equipped to serve its customers," said Tom Cook, owner of the holding group that now owns Harbor Insurance. "Our customers expect value and quality, and they will continue to receive it."

  Cook has extensive insurance industry experience. Prior to acquiring Harbor Insurance, he was president of National City Insurance Group, Inc., which provided auto, homeowners, life, accident and health, credit, title and private mortgage insurance products to individuals, as well as property, casualty, health benefits, managed care, life and workers' compensation insurance services to businesses.

  Prior to joining National City, Cook was president and CEO of Acordia of Northeast Ohio (now Wells Fargo Insurance), a commercial insurance brokerage. He also worked for Progressive Insurance Company for nine years and last held the position of general manager and CFO, Transportation Division.

  "We are excited about what the future holds for our new company," Cook said. "Many opportunities lie ahead. Both former agencies built strong customer relationships and enjoyed reputations for delivering quality service. Not only do we plan to continue that legacy, but we also plan to enhance the way we do business."

  Keywords: Harbor Insurance.

  This article was prepared by VerticalNews Insurance editors from staff and other reports. Copyright 2009, VerticalNews Insurance via VerticalNews.com.