MAHWAH, N.J., May 5, 2015 /PRNewswire/ -- The Capacity Group of Companies ("Capacity") and All Trans Risk Solutions LLC, an affiliate of Capacity ("All Trans"), today announced that All Trans has entered into strategic investments in Transportation Insurance Professionals, LLC ("TIP") and TIP National, LLC ("TIP National").
TIP, headquartered in Scottsdale, Arizona, is the largest managing general underwriter ("MGU") specializing in tow truck, auto transport and repo transport insurance in the U.S. Prior to the transaction announced today, it operated under the name The Insurance Professionals, Inc. Long time owners Michael Chernek and Shane Powell will remain as active partners in the business.
TIP National, formerly doing business as TIP National, Inc., is one of the country's most respected MGUs focusing on the motor transportation (trucking) industry. Headquartered in Oklahoma City, Oklahoma, TIP National will continue to be led by President Brenda Watson.
Robert G. Lull, CEO of Capacity, stated, "We are delighted to be working with Brenda Watson, Mike Chernek and Shane Powell as business partners and believe that TIP and TIP National will significantly expand their national footprint as a result of our partnership." Lull continued, "Through our strategic investments in TIP and TIP National, we continue to expand our already substantial operations in the brokerage of transportation-based insurance products. All Trans and its affiliates now control in excess of $100 million of insurance premiums with multiple insurance carriers in an MGU environment."
The Capacity Group of Companies is a full service specialty insurance and financial services organization headquartered in Mahwah, New Jersey with over 300 employees in 16 retail and wholesale offices. Capacity has a diversified insurance distribution platform in retail, wholesale and specialty program business which offers brokerage services in multiple lines of commercial, personal, specialty and benefits insurance. Since its inception in 1990, Capacity has grown organically and through a series of acquisitions and strategic partnerships and is currently ranked the 43nd largest overall by Business Insurance and among the top 25 privately-held property/casualty agencies in the U.S.
About All Trans
With the strategic investments in TIP and TIP National, as well as the investment in Transportation Insurance Services LLC announced in January 2015, All Trans has grown to become one of the largest MGU/wholesalers of transportation insurance business in the U.S. Following the most recent transactions, it now offers a suite of products for the following sectors of the transportation industry: motor carrier transport, school buses, paratransit, livery, tow trucks, auto transport and waste haulers.
For additional information, contact Robert G. Lull (201) 661-2000.
SOURCE The Capacity Group of Companies