Markel Corporation has begun consolidating the number of insuring entities that they own and operate. Accordingly, certain Markel insuring entities are being merged into other Markel companies. There are no carriers being merged or sold outside of Markel.
Effective June 30, 2016, Essex Insurance Company will merge into Evanston Insurance Company, an A.M. Best financial strength category XV company with more than $2 billion in policyholder surplus. Their underwriting strategy and capacity remain unchanged. Your insured will be working with the same claims and support teams at the same locations. It will be "business as usual - just better."
A cover letter and merger endorsement will be mailed by Markel to all in-force insureds or policyholders during the month of July 2016, explaining the changes. Copies of these endorsements will be sent to your office for your policy file documentation. In the coming months, you will begin to see new business quotes being issued using Evanston Insurance Company instead of Essex Insurance Company.
What does not change:
Among Markel's strategic goals are growth, profitability, efficiency, and scalability. This initiative of legal entity consolidation supports these goals and is being implemented at a time when our balance sheets have never been stronger.
Feel free to contact your Tuscano underwriter if you have additional questions on this subject in general, or as it relates to a particular policy.