1. When will this happen?
The sale was effective January 3, 2012.
1. When will this happen?
The sale was effective January 3, 2012.
2. As a current THOMCO Producer, what does this mean for me and my Agency?
Importantly, if you are a current THOMCO Producer, it is "business as usual." All our best-in-class insurance Programs will continue to be offered as in the past.
Your in-force business remains in-force. Your THOMCO contacts all remain the same.
The biggest benefit to you may include becoming an approved, contracted and appointed Markel Producer if you are not already a Markel producer.
The combining of THOMCO and Markel will provide you access to more products and programs. Like us, you should be excited about the growth possibilities this
provides your agency.
Also, for qualifying producers there may be an opportunity to participate in the Markel Profit Sharing program for qualifying insurance products and programs.
Additionally, you may have access to the Markel Direct Bill program for those insurance products and programs underwritten by Markel.
In certain specialty niches like Child Care, combining the strengths of THOMCO and Markel will have the benefit building a best of class
program using the value propositions of both organizations to the benefit of policyholders.
3. As a current THOMCO producer, what is the down side, if any, to me and my Agency?
We can see no disadvantage or "down side" resulting from this change. As outlined in these FAQs, there are clearly many benefits associated with this change and
everyone at THOMCO is excited about the opportunity ahead of us.
4. Will THOMCO continue to operate as THOMCO and will all the THOMCO Programs continue to be available?
Yes, we will continue to operate as THOMCO and it will be "business as usual." All our more than 20 national specialty niche programs will still be available.
THOMCO will operate as a separate business unit of Markel with Greg Thompson, President, and Bob Heaphey, Chief Operating Officer, running our operations.
The THOMCO operating unit will be a part of Markel Specialty.
5. Will my underwriters and other contacts at THOMCO be the same?
Yes, all your contacts at THOMCO will remain the same. As part of the transition, some underwriting contacts may change in the future, but we will advise you of
any such changes well in advance.
6. Will THOMCO email addresses and phone numbers remain the same?
Yes, all our email addresses and phone numbers stay the same. As a reminder, THOMCO email addresses use the format FirsName.LastName@thomcoins.com.
7. Where do I send my new and renewal applications -- to Markel or to THOMCO?
Send all applications to the same place as you have done in the past. THOMCO and Markel will continue to operate independently at this time.
Remember, it is best to send new submissions to THOMCO's New Submissions mailbox at New.Submission@thomcoins.com
8. What insurance companies will be issuing policies for THOMCO programs?
Ultimately most, but not all, THOMCO policies will be written by one of the "A" rated Markel admitted and non-admitted insurance companies. Transition to Markel paper will
begin in 2012. Until then, business will be underwritten with the current insurers.
All Producers will be kept informed about the timing of moving specific programs from existing carriers to Markel. You will receive notice of these changes in
THOMCO and Markel are working with the current carriers on a smooth transition. Specific transition plans by program and state will be communicated as soon as
Keep in mind with any change from a current THOMCO program carrier to Markel we may be required to send Notice of Cancellation from the current insurer. The
intention is for Markel to replace the carrier that has sent the Notice of Cancellation unless there are other underwriting or payment reasons for the
9. Where will policies come from?
Policies will be issued from the THOMCO office just as has been done in the past for our programs.
10. Will invoicing be the same?
Yes, for the immediate future, you will continue to be invoiced the same. Payments should also be made as they are now.
As we transition programs from existing carriers to Markel, some payment procedures may change. THOMCO will make sure
producers are advised of any changes to the payment process in a timely manner.
11. I currently use the THOMCO Portal. Is this still available to me?
Yes! Log-in as usual and continue to use the portal to enter information as in the past (Note: not all THOMCO Producers have
access to the Producer Portal as this is in the initial stages of being rolled out.)
12. What happens to my THOMCO Producer Agreement?
Your THOMCO Producer Agreement is still in effect. After closing we will provide you with additional information about managing
Producer Agreements and appointments with Markel.
13. Does my commission remain the same?
Yes, commissions remain the same for current programs provided to you by THOMCO.
14. If I am a new Producer, how do I become approved and appointed?
The process for new Producers interested in becoming approved to place business through THOMCO remains unchanged. Interested agencies should begin the process
by CLICKING HERE
and completing a preliminary Producer Application.
If a preliminary approval is granted, your application will be further processed by THOMCO. Markel and THOMCO will continue to operate independently through
closing of the acquisition transaction.
Markel will continue with their usual process for new agency contracting and appointment separate from THOMCO.
15. Will I be advised of changes if and when any are made?
Yes, THOMCO plans to send Producers regular e-mail updates regarding any changes. We will also post updated FAQs on our website as necessary. Most notably, as we
transition to all Markel paper in the future, and as programs are transitioned to Markel from the previous carriers used by THOMCO, you will be advised of this
transition in advance.
16. Who is Markel?
Markel Corporation (MKL-NYSE) is an international property and casualty insurance holding company headquartered in Richmond, VA. Markel sells specialty
insurance products and programs to a variety of niche markets. Markel seeks to differentiate itself from competitors through expertise, service, continuity and
other value-based considerations. Markel's financial goals are to earn consistent underwriting profits and superior investment returns to build shareholder value.
Markel has a growing presence in specific industry niches working with retail agencies.
You can view more about Markel Corporation at www.markelcorp.com
By viewing www.markelinsurance.com
you will see Markel's growing niche business supporting retail agencies.
17. Why does Markel want to acquire THOMCO?
Markel and THOMCO are a perfect fit! THOMCO and Markel share the same specialty product focus and niche market strategy.
THOMCO is a strategic acquisition supporting Markel's plans to expand program offerings. It enhances Markel's market presence for specialty niche business by
using Markel's capital strength and THOMCO's program capabilities and experience.
Both THOMCO and Markel are recognized as leaders in the markets they serve when it comes to expertise and specialized market knowledge. The combination of
THOMCO's experienced staff of knowledgeable experts with Markel's resources will create a level of experience, knowledge and expertise unparalleled in the
specialty niche markets we mutually serve.
18. Why does THOMCO want to sell to Markel?
For the benefit of our long standing and loyal Producer partners!
The financial strength and long term stability provided by Markel assures THOMCO will be able to provide best-in-class programs to our customers on a long term
Merging the operations of THOMCO with Markel will allow us all to take THOMCO to the next level as part of a stable and financially strong Company. We will
become the market of first choice for our existing Producers as well as new Producers as we continue to increase the quality of service we provide while growing
our knowledge and expertise in the niches we serve.
Additionally, this allows THOMCO to potentially offer our qualified Producers opportunities for Profit Sharing and Direct Bill, two things our Producers most