United Insurance Group adds Springfield office

In its 20-year history, United Insurance Group’s emphasis has been in personal insurance lines – life, health, auto and home. Haney said that has changed with the buy.

“A couple of people we’ve brought in are experienced commercial agents,” he said. These agents will work with small- to medium-sized businesses such as single-owner and family-owned-and-operated businesses, he added.

Commercial focus

“We officially just opened Sept. 1 for the commercial line,” said Carol Muldrow, a United agent focusing on business accounts. Muldrow joined the company after seven years with Ollis and Co.

United Insurance Group’s target businesses typically have annual premium outlays of $50,000 or less.

Property and general liability insurance, workers’ compensation policies and business succession insurance are among the products promoted, Muldrow said.

While larger accounts won’t be shunned, it’s the smaller firms of less than 20 employees United is after.

“We do want large accounts, but our main concern is to take care of the small-business person that has been looked over in the past,” Muldrow said.

According to Muldrow, the agency buy and new commercial focus have already paid dividends. She said United’s revenues have increased at least 24 percent since acquiring All American Agency.

Still, United’s overall sales mix between personal and business insurance policies is more than 90 percent in personal lines, she added.

Haney would not disclose the purchase price for the agency. Assets included All American Agency’s book of business, customer records, office equipment, furniture and the assumption of the property’s lease, he added. No agents came over in the deal.

All American Agency is “in a good location, has a good past, good telephone traffic,” said Haney, who has owned United for about 20 years.

Haney is not new to buying insurance concerns. Since August 2000, he has borrowed $610,000 backed by the U.S. Small Business Administration for the purpose of buying insurance agencies.

Craig Gibson was previous owner of All American Agency, according to 2003 registration filings with the Missouri Secretary of State. Gibson declined comment regarding the sale of the business.

United employs 14 insurance agents throughout its five-office system with four agents selling in the Springfield area, Haney said. The company places contracts with about 30 different insurers. Additional United offices are in Ava, Marshfield and Willow Springs.

Muldrow said a future expansion of the Springfield office is likely as receipts rise.