Truck and Garage Insurance Company



Company Type

Insurance Carrier





Investment Type


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Helping Great Companies Grow


  • International Standard Transport Risk (ISTR) seeking $65 million of equity to acquire/expand an insurance company – initially focused on the “Truck and Garage” niche sector in Texas, Florida and California
    • truck insurance, a segment of commercial auto insurance, provides liability coverage mandated under Federal law for vehicles of a specific weight or greater
    • garage insurance refers to commercial insurance on the service and repair of private and commercial vehicles
  • Management believes the truck and garage insurance market offers dramatic growth opportunities
  • ISTR plans to provide insurance to all areas of trucking and garage risk, with initial concentrations in long-haul trucking, garage operations for service risks, as well as towing operations
  • Opportunity to enter the market rapidly by purchasing an existing small carrier and subsequently expanding product offerings by forming a new entity with additional license
  • Management team led by Darren Yancy – involved with the truck and garage insurance sector since founding his own insurance agency in 1994 (Yancy & Associates, Inc.)
  • Marketing is expected to be facilitated by management’s extensive network of insurance agents as well as Darren Yancy’s radio show “The Automotive Edge and Truck Talk”, which intends to become nationally syndicated in Q1/20
  • ISTR plans to manage the business to achieve an A rating or better in its first year of financial rating eligibility (Year 5), and seek a potential exit through a sale or IPO
Helping Great Companies Grow


ISTR believes that the truck and garage insurance market is underserved and ripe for entry by a new sophisticated carrier

  • Truck insurance
    • key coverage of one of the largest sectors of the US economy
    • provides economic balance and security for the movement of goods around the US
  • Garage insurance
    • covers liability for work performed on and around garage facilities including potential damage to client vehicles in the care, custody, and control of the client
    • covers subsectors of general auto repair, body shops, parking garages, as well as new and used car dealerships
    • includes towing operations for hire and under contract
  • Current state of the market
    • poor underwriting and economic factors such as 9/11 and the Great Recession caused several to exit the marketplace, such as Zurich, Farmers, and Liberty Mutual over the next decade
    • remaining carriers increased premiums 2x or more while limiting coverage and making it very difficult to obtain
    • despite the higher premiums, ISTR believes industry profitability is weak due to arcane operations, passive claims performance and outdated policy offerings
Helping Great Companies Grow


  • ISTR plans to provide insurance to all areas of trucking and garage risk, with initial concentrations in long-haul trucking, garage operations for service risks, as well as towing operations
  • Has targeted for acquisition an existing garage insurer – Recover RRG (Recover Risk Retention Group) – will allow ISTR to commence operations almost immediately
  • Plans to establish an “Excess & Surplus Line Carrier” (E&S), domiciled in Texas, which will enable ISTR to write truck insurance
  • Intends to build “modernized” operations through improved product offerings, technology, distribution and claims management
  • Capital raise is expected to be sufficient to acquire the RRG and launch operations
    • provides proper investment capitalization required by state regulators for capital surplus requirements and negotiate favorable terms with reinsurers (which is required for new insurance providers, such as ISTR)
    • build out infrastructure and staffing
    • fund the development of proprietary software and applications
  • RRG Acquisition
    • RRGs – authorized by the Risk Retention Act of 1986 – allow for purchasing groups and self-insurance programs for certain types of liability exposures
    • these entities tend to be more lightly regulated than most other types of insurers regarding policy flexibility and rates and have lower capital requirements
    • can only offer one line of insurance
    • RRGs are out of favor – ease of market entry led to creation of many marginal RRGs, resulting in numerous failures
  • Establishment of Excess & Surplus Line Carrier, domiciled in Texas
    • E&S carriers are permitted to write insurance on all lines of business – will be the vehicle for trucking insurance
    • similar to RRGs, offers policy flexibility and ease of changes in coverage and rates without state reg approval
    • state regulators require higher capital surplus requirements for an E&S company over an RRG
  • Operating strategy
    • will seek to operate more efficiently than existing carriers, enabling proper premium pricing
    • insurance is sold through specialized independent agents – ISTR has two of the largest truck insurance agencies committed to the program already for trucking and two others for garage/tow risks
    • unlike its competitors, plans to digitalize the overall rating and issuance process by utilizing its website, software, and the ISTR App – reducing an insured’s rating request time to as few as 48 hours, with active capture and analysis of DOT records and client information to better adjusting premiums
    • ISTR intends to develop the “ISTR App” for desktops and portable devices to allow clients to update their profiles including DOT inspections, power unit and/or trailer change verifications, driver updates, mileage driven and others
Helping Great Companies Grow


Darren G Yancy,Sr,

President, CEO, Chairman of the Board

Experienced in all phases of account solicitation, underwriting, placement, claims, and risk management of several specialty insurance sectors. Truck and garage insurance agent from 1996 to 2014 through Yancy & Associates, Inc. (founder and president) and later, The Yancy Group, Inc. (founded by spouse, Carol Yancy). Sold the insurance agency business in 2014 and since then has provided insurance consulting services. Joined HUB International Transportation Insurance Services, which provides business insurance and employee benefit services. Licensed general lines life and health/property and casualty agent, managing general agent, as well as a licensed property and casualty adjuster for Texas. Held as many as 25 nonresident licenses in property and casualty across the US. BS, Finance, University of Texas at Arlington.

G Bobby Goff, Jr

CMO, Vice Chairman of the Board

Veteran of trucking insurance for over 25 years. Underwriting assistant for Countrywide Transportation – became lead underwriter within eight months and was an integral part in the company reaching over $300 million in revenues within three years of inception. Founded the National Transportation Agency as a retail agency specializing in truck insurance. Joined Yancy & Associates, Inc. in 2002 and later The Yancy Group, Inc. and was lead transportation writer until business was sold. Cofounded Alpine Insurance Risk Retention Group, an RRG in the smaller and high-risk segment of trucking. Left Alpine to become part of ISTR. Licensed general lines property and casualty agent for Texas.


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Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784


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