June 18, 2007
More car coverage for Commerce's Calif. co.
By Matthew L. Brown
The Webster-based Commerce Group Inc. said its Pleasanton, Calif.-based subsidiary, Commerce West Insurance Co., reached a general agency agreement with Stonewood Insurance Services Inc. of Rancho Cordova, Calif.
Under the agreement, Stonewood expects to place up to $170 million in California private automobile insurance policies with Commerce West over the next three years.
Commerce expects to write $20 million in premiums during the first year of the new relationship, and $100 million in the third year.
Stonewood would be responsible for the sale of certain Commerce West policies. Stonewood has a retail insurance network throughout California.
Commerce also expects Stonewood to provide billing, customer service, policy processing and management services under the new agreement.
Under the agreement, Stonewood expects to place up to $170 million in California private automobile insurance policies with Commerce West over the next three years.
Commerce expects to write $20 million in premiums during the first year of the new relationship, and $100 million in the third year.
Stonewood would be responsible for the sale of certain Commerce West policies. Stonewood has a retail insurance network throughout California.
Commerce also expects Stonewood to provide billing, customer service, policy processing and management services under the new agreement.
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