Business Moves

USAA

Military insurance company USAA is expanding its customer base by nearly 35 million prospects by opening up eligibility for its products to all veterans who have served in the U.S. Armed Forces at any time. More than 18 million U.S. military veterans and their 17 million eligible family members may now take advantage of USAA and its insurance and banking services.

The financial services firm, which said it now has 7.3 million customers, previously had restricted sales to military officers and their families, as well as some enlistees and non-commissioned officers. Previously no personnel who served before 1996 were eligible for USAA membership; now they will be.

Persons now eligible for Property Casualty Group membership include:

• All current members of the U.S. Armed Forces, active duty, Guard and Reserve, as well as those who retired or honorably separated in the past, regardless of dates or branch of service (Army, Air Force, Navy, Marine Corps and Coast Guard).
• Cadets, midshipmen, and officer or warrant officer candidates in government-sponsored programs leading to a commission.
• Adult children, widow(er)s, and un-remarried former spouses of USAA members.
• Widow(er)s of officer and enlisted personnel who were killed in action while eligible.
• Additionally, USAA life insurance, investment, retirement and deposit products are also available to members’ extended families and others who are not eligible for USAA membership.

Hub International, Mones & Associates

Chicago-based insurance broker Hub International Ltd. acquired Mones & Associates Insurance Brokers Inc., a personal and commercial insurance broker in western and northern Canada with approximately $10 million in annual revenue, from Aviva Canada Inc. Terms of the acquisition were not disclosed.

Mones also operates under the name of Arctic Insurance Brokers Ltd. in select markets. As a result of the acquisition, Hub will expand its operations to the following seven new locations in Canada: Edmonton, Calgary, Saskatoon, Prince Albert, Iqaluit, Whitehorse and Yellowknife. Mones will become part of the Hub International Barton operation, based in Chilliwack, British Columbia.

Carstar Collision Centers

Overland Park, Kan.-based Carstar Collision Centers added 10 new franchise locations, adding stores in Colorado, Iowa, Nevada, Ohio, North Carolina, Tennessee and Washington. The new franchisees will offer services and products for collision repair, including repair technology, rental vehicles, national warranties on repairs and turnkey service.

Carstar has some 400 collision repair centers in the United States and Canada. The new locations in Iowa, North Carolina and Tennessee are the first for those states.

The Buckner Co., Flying J

Salt Lake City-based The Buckner Co. entered into a definitive agreement to purchase Flying J Insurance Services effective Jan. 1, 2010, continuing President Terry H. Buckner’s vision to grow the insurance brokerage business with niche market programs.

“We think the current recession has provided great opportunities for firms such as ourselves to grow our business,” Buckner said. “While the trucking industry is down right now, we are confident in the long term growth of the economy, and we think that trucking will play an important role in that recovery. … Expanded operations in our trucking and employee benefits practices have offset slumps in construction, which has, in the past, been an overwhelming percentage of our business.”

Flying J Insurance Services President Mark Farmer said his company places approximately $25 million of insurance premiums annually, and has been providing insurance to the trucking industry since 1997.

Momentous Insurance

Momentous Insurance Brokerage of Van Nuys, Calif., launched a restaurant insurance specialty practice. Some of the risk management services offered include contract review, loss control and inspection, in-house claims services and access to a Forms and Resource Library. The firm also joined the California Restaurant Association (CRA) as a preferred service provider.

Island Insurance

Honolulu-based Island Insurance Co. Ltd. has launched its new employment practices liability insurance (EPLI) and Cover Choice insurance products for small- to mid-sized businesses.

Topics USA Canada