AequiCap’s Shareholders Help Loyal Agent
May 12, 2010 01:04 PM Eastern Daylight Time
FORT LAUDERDALE, Fla.--(EON: Enhanced Online News)--In this difficult economic time AequiCap is proud
to be a stable and reliable partner for our agents. Such was the case when Jack de la Cova, Chief Executive Officer
of Insurance Network Specialties (INS) approached AequiCap to seek financial assistance for his company which
met significant challenges as a result of the economic downturn.
In response, AequiCap’s principals partnered with INS, bolstered its capital structure, and are helping Mr. de la
Cova restructure his business. INS will now operate as IGS, Insurance Group Services, Inc., and is well positioned
to grow in this rebounding economy. IGS will maintain most, if not all, of its contracts with its insurance partners.
"Having successfully managed AequiCap’s own turnaround over the last three years and returned AequiCap to
health, this step was a natural progression for our company," says Philip Morgaman, Chairman of the Board.
Although AequiCap’s shareholders are now equity partners, IGS will be managed independently by Mr. de la Cova
and will be subject to the same rules and underwriting guidelines as every other independent agent.
"Our partnership with Mr. de la Cova is indicative of AequiCap's core values and strength," says Mr. Morgaman.
"The support we provided Mr. de la Cova is a perfect example of the benefit of being a loyal AequiCap agent and
friend. While we have no long term plans of remaining investors in IGS once the plan is completed, we are happy to
be there to help this long valued agent in the interim.”
Linda M. DiNapoli, 800-275-2800
Vice President Sales & Marketing