Morristown, Tenn. (Jan. 3, 2025) – Strate Insurance Group, Inc. is merging with Main Street Insurance Group, a regional risk management, insurance, and employee benefits firm. Main Street Insurance Group employs approximately 125 people, with offices in Charlotte, Fletcher, Forest City and Tryon, North Carolina, Augusta, Georgia, and now Morristown, Tennessee. Effective January 1, 2025, the merged firm will operate as “Strate Insurance Group, A Main Street Insurance Group Partner,” which underscores Strate’s commitment to remaining in the Lakeway region, while acknowledging the next generation of the firm.
“The future is bright, and I couldn’t be more excited for this next phase of growth,” said Katherine Strate Smith, president and CEO of Strate Insurance Group. “From the very beginning, our conversations with Main Street were easy because of our shared values and commitment to doing the right thing for the customer—always. I want to be very clear: we are not being bought by an out of town national broker. This is a merger of strengths, designed to benefit our customers, bring innovation to the risk management and insurance landscape in East Tennessee, and provide growth opportunities for our team.”
Strate Insurance Group is retaining all of its team members. Customers of Strate Insurance Group will continue working with the Morristown team. There will be no changes in their policies or coverage during this transition. The Morristown office will remain on West Andrew Johnson Hwy., and the firm underscores its commitment to remaining involved in the community.
Founded in 1978 by Jack and Agnes Strate and Tom Strate, Strate Insurance Group has been a trusted risk management, insurance, and employee benefits advisory firm, providing personal service and technical expertise to its valued business and personal clients. The firm has excelled in providing the best risk management counsel and insurance solutions since 1978. In 2018, Katherine Strate Smith joined the organization and has worked alongside Tom to envision the next iteration of the firm.
“Merging with Main Street Insurance Group is the best next chapter for Strate Insurance Group,” said Tom Strate. “We have known and worked with the Flack family, who founded Main Street Insurance Group, for more than 10 years. They are trusted confidants, and this merger is a natural and positive progression. The Flack family shares the same values as the Strate family, and we both take our responsibility to our customers very seriously.”
He continued, “I had the good fortune to start Strate Insurance Group alongside my parents, and eight years ago welcomed my daughter, Katherine Strate Smith, to the business. Our family-owned business has been very rewarding. It is a rare accomplishment to perpetuate a family-owned business into the 3rd generation. In 2023, Katherine became the president and CEO and majority owner. I am proud of her vision for Strate Insurance Group. She has strong instincts and an inspiring work ethic. She has chosen our new partners carefully and wisely. I am excited for the future—both for our team and our customers, who remain in trustworthy hands.”
Going forward, Katherine Strate Smith will be a partner and owner in Main Street, while Tom Strate will serve clients and find new business opportunities in an advisory role.
“We are delighted to officially welcome Strate Insurance Group into the Main Street family. This partnership exemplifies a remarkable alignment of our core values and our shared commitment to excellence,” said Chad Flack, president and partner of Main Street Insurance Group. “This merger stands as a powerful testament to the strength of collaboration, as both organizations have evolved from a network of small-town, family-owned agencies into one of the fastest-growing firms in the Southeast. Together, we are dedicated to fostering greater opportunities for our team and enhancing the services we provide to our clients and the communities we proudly serve.”
Together, the combined team will serve business and personal clients in East Tennessee. Both firms have expertise in manufacturing, wholesale and distribution, healthcare, nonprofit, and construction industries. Main Street’s team brings an innovative approach to employee benefits, particularly in managing self-funded health plans. More will be shared about this specialization in the future.
About Strate Insurance Group:
Strate Insurance Group, Inc. is a risk management, insurance, and employee benefits advisory firm dedicated to offering comprehensive coverage and exceptional service to clients across various industries. With a rich heritage spanning several decades, Strate Insurance Group continues to uphold its commitment to protecting businesses, individuals, and families with tailored insurance solutions that meet their specific needs. The office is open from 8 am–5 pm ET, with a lunch closure from 12–1 pm. www.strateinsurance.com
