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Run Time: 9:21
in Markets, News

Westfield Carefully Weighs Wider Midwest Move

Ohio-based property/casualty and agribusiness carrier Westfield Insurance is in 26 states, but have a much greater presence in some states than others owing to their very conservative agency appointment process. Division manager Tim Grant and Champaign, Ill.-based agency relationship manager Ken Hunter spoke about what factors the company uses to decide when and how to expand as well as what it looks for in a partner agency.

They are in 26 states, and have just moved into Virginia for commerical lines. When deciding whether to move into another state, analysts review such factors as market and judicial environments, state regulations, competitor analysis and weather patterns. Although captive competitors are cutting rates to make money, Westfield is not concerned; they focus producing quality products that are priced appropriately.

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