Motorists Insurance Group and BrickStreet Insurance merged in a 2017 joint venture that did not require policyholder approval. The two companies now operate under the new name Encova Mutual Insurance Group following a July 2019 rebranding effort. The merged company is headquartered in the Columbus, Ohio home of Motorists.
Encova is now a super-regional carrier ranked in the top 20 mutual companies in the U.S. It sells commercial and personal lines in 28 states and the District of Columbia with a focus on the Midwest, Northeast and South. Encova offers business owner policies, employment practices liability insurance, cybersecurity coverage, workers’ compensation, and personal lines of auto, home and life insurance through a network of 2,000 independent agencies and 17,000 independent agents.
Background on BrickStreet and Motorists
BrickStreet Insurance, a mutual company owned by its policyholders, became West Virginia’s first private workers’ compensation carrier on Jan. 1, 2006. Since then, BrickStreet expanded into a regional workers’ compensation carrier that writes over $300 million in premiums. BrickStreet was based in Charleston, West Virginia, with regional offices in Charlotte, North Carolina; Naperville, Illinois; and Pittsburgh, PA. As of mid-2020, the company maintained an A.M. Best rating of A- (Excellent) with a stable outlook.
BrickStreet offers coverage in AL, FL, GA, IA, IL, IN, KS, KY, MA, MD, ME, MI, MN, MO, NC, NE, NH, NJ, OH, PA, RI, SC, TN, VA, VT, WI, and WV.
The Motorists Insurance Group is composed of eight companies: Motorists Mutual Insurance Company, Motorists Life Insurance Company, Broad Street Brokerage, MICO Insurance Company, Iowa Mutual Insurance Company, Iowa American Insurance Company, Wilson Mutual Insurance Company and Phenix Mutual Fire Insurance Company.
Business and personal insurance services include commercial package (liability, property, commercial auto), workers’ compensation, employment practices, auto, property, umbrella (personal and commercial), cyber liability, risk management recreational vehicles, and identity theft.
Specialty market segments include auto service garage, contractors, dealerships, restaurants, and wholesalers.
The Encova panel counsel program is being coordinated under the new branding. Members of the Brickstreet panel counsel and Motorists panel counsel programs will want to be alert for any future consolidation efforts.
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This article is provided for educational purposes only. It is not to be interpreted as legal advice or an opinion in regard to any topic discussed. The article should not be used as a substitute for legal advice from a licensed attorney in your state. Every situation is different and circumstances vary widely depending on the governing state law, policy provisions, and related considerations.