Cincinnati Insurance Company (CIC), a subsidiary of Cincinnati Financial, has appointed Oregon-based KPD Insurance, as the first independent agency in Oregon to market its business insurance policies and services.
CIC president and CEO Kenneth Stecher said the 81 new agencies the company has appointed to date write an aggregate of nearly $1.5bn in property casualty premiums annually with various companies, for an average of approximately $18m per agency.
We look to earn a 10% share of an agency’s business within 10 years of its appointment. Our solid financial strength through all kinds of markets is due to the depth of our relationship and service commitment to local independent agents and our industry-leading claims service, broad coverages and highly competitive multi-year policies, Stecher said.
CIC Executive Vice President JF Scherer said the experienced field marketing director, Roger Whitescarver, has relocated to West Linn, Oregon.
We plan a great partnership with KPD and look forward to partnering with additional independent agencies in Oregon,Scherer said.