IMS insurance

How Mergers Help Consumers

Sometimes the general public fears mergers with large corporations. Given government involvement with antitrust laws, it is important to protect healthy competition in our economy. However, there are times when mergers and acquisitions provide a significant benefit to consumers. Recently, IMS insurance out of Texas found itself in a position to merge with a larger brokering agency, providing additional services and products to a grateful client base.

Some of the services now offered through this new partnership include:

  • Auto physical damage
  • Auto liability
  • Environmental liability
  • General liability
  • Professional liability
  • Commercial property
  • Liquor liability
  • Garage liability
  • Umbrella
  • Pollution liability

One of the benefits of an acquisition or merger is the expanse of business practices. Within an insurance field, operations might be limited to the state holding the license or the experience of local staff. With the situation involving IMS Insurance, each company was able to expand its reach beyond one operating state. This creates the potential to develop a stronger client base and long-term stability.

The addition of new services and products gives current customers more options with policies they hold, and also provide new financial negotiations. Access to different carriers, more specialized agent attention and in-house underwriting affects the overall cost of a policy. When you can see the consumer benefits after a merger, it is easier to have more confidence in the result.