June 22, 2010 - Front Section
The insurance broker that had been operating as AKD Insurance since 2006, will do business under its original name, Arnold K. Davis & Co., Inc., effective May 1, according to Robert Davis, president and sole owner.
The change will be seamless to customers, vendors and the insurance providers with whom the firm works.
Additionally, there will be no interruptions in service, which has resulted in a client retention rate of 94%.
"In an industry that sees purchasers of insurance frequently going from one company to another, we're especially proud that 90% of our clients have been with us for 20 years or more," Davis said.
Formed in New York City in 1954 by Davis' father, Arnold Davis, the company offers a broad range of personal and business insurance including property, casualty, life, disability and long-term care insurance, as well as group employee benefit plans and estate planning. It moved to Westchester in 2002 and now has a staff of eight experienced professionals.
Looking to the near-term future, Davis sees the firm expanding its business client roster through the delivery of cyber liability insurance products. He is also bullish about courting new customers in the restaurant industry, as well as attracting business and individual clients in New Jersey, where he recently hired a new insurance counselor.
"This is a great business to be in," he said. "Businesses and individuals will always need protection, changes in our external environments will always require the help of experts, and service providers with proven track records of building trust will always be looked to for assistance."
One of Westchester's more rapidly growing providers of insurance and asset protection, Arnold K. Davis & Co., Inc. works closely with 12 nationally known insurance carriers by providing clients with products best tailored to their situations and budgets. It also can tap its vast network of intermediaries to connect clients with any other insurance carrier in the country in order to prudently and economically cover all contingencies.
The company currently has a premium volume of more than $10 million and has been growing at an annual rate of 4% over the past five years despite the country's economic difficulties of the recent past.