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In order to provide the Texas Automobile Dealers Association (TADA) and the Texas dealers they represent with the highest quality and best managed workers' compensation program in the marketplace, Service Lloyds and TADA created the AutoComp program in 1982. Service Lloyds continues to stand at the forefront of the workers' compensation market in Texas, representing 60% of the dealers in the state while returning over $58 million in contingent compensation to those dealers over the last 21 years.
As the need to diversify within this product line became apparent, Service Lloyds continued in the same manner that brought past success, partnering with the Independent Insurance Agents of Texas in developing, underwriting, and managing the Comp Connection program. Focused on continuing our success in the future, Service Lloyds maintains a strong presence in this core business line, writing workers' compensation for main street businesses through a strong network of Independent Agents, Managing General Agents (MGAs), and Association contacts alike. Great programs need excellent communication so Service Lloyds formed an Agents' Advisory Council in September 2003 to respond to this need.
Diversification and industry knowledge are vital for Service Group's superior financial strength and position in the marketplace. In 2001, Service Lloyds introduced a new product to the market, Guaranteed Asset Protection (GAP), as a complement to the credit insurance and vehicle service contracts written by Service Life. Today, the GAP product represents over 8,000 new policies a month, as it continues to surpass all expectations.
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Service Lloyds Annual Rating
(Released March 13, 2006)
Company Name:
Service Lloyds Insurance Company
A.M. Best Number:
1956
Best's Rating:
A- g
Best's Rating Category:
Excellent
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