First American Property & Casualty Insurance Agency

What First American Property & Casualty Insurance Agency does

First American Property & Casualty Insurance Agency (FAPCIA) is a surplus lines insurance brokerage headquartered in Santa Ana, California. Founded in 1999 and operating as a subsidiary of First American Financial Corporation (NYSE: FAF), the firm runs the Transactional Risk Solutions (TRS) division, which specializes in placing specialty coverage for commercial real estate (CRE) transactions. FAPCIA holds California surplus lines license #0534607 and operates with a small team of 11-50 employees.

FAPCIA's product suite centers on three specialty lines: Representations and Warranties (R&W) Insurance, Tax Liability Coverage, and Contingent Risk Liability Coverage. These products are positioned to address deal-specific risks that emerge during CRE transactions — post-closing breaches of seller representations, IRC §1031/transfer-tax exposures, and contingent liabilities tied to existing ownership structures. The firm does not underwrite risk on its own balance sheet; it acts as a broker placing coverage with surplus lines carriers, with the value proposition grounded in underwriting judgment and access to specialty markets.

Distribution is direct and relationship-driven: the senior team is composed of CRE industry veterans (President Karen Saez; Randall Scott, VP Sales & Counsel; Matt Somma, VP; Cindy Carter, VP Operations; Kalena Clemena, Compliance Specialist) who source deals from within the commercial real estate ecosystem. Revenue mechanics follow a brokerage commission model on each transaction placed, with the parent company's broader First American title insurance and real estate services footprint providing indirect channel access to CRE market participants. The firm's independent brand equity outside of the parent's existing relationships appears limited based on available inputs.

Name

First American Property & Casualty Insurance Agency

Legal name

First American Property & Casualty Insurance Agency, Inc.

Website

https://fapcia.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

First American Property & Casualty Insurance Agency is a surplus lines insurance brokerage subsidiary of First American Financial Corporation, providing Representations and Warranties Insurance, Tax Liability Coverage, and Contingent Risk Liability Coverage for commercial real estate transactions.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Facultative Financial Lines Reinsurance (D&O, E&O, FI, Crime) (FSAOAFAF)

akta.pro secondary industries

Facultative Professional Liability Reinsurance (FSAOAFAG), Casualty Facultative Reinsurance (FSAOAFAB)

Keywords

• Commercial real estate insurance
• Transactional risk insurance
• Representations warranties insurance
• Surplus lines brokerage
• Tax liability coverage

Headquarters

HQ city

Santa Ana

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Transactional Risk Insurance Brokerage: FAPCIA operates as a surplus lines insurance brokerage providing transactional risk insurance products for commercial real estate transactions. Revenue is generated through insurance premiums placed with brand name underwriters for representations & warranties coverage, tax liability coverage, and contingent risk liability coverage.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

First American Property & Casualty Insurance Agency (FAPCIA) operates as a California-licensed surplus lines insurance brokerage providing Transactional Risk Solutions for commercial real estate transactions. The agency partners with brand name underwriters to structure and place Representations & Warranties Insurance, Tax Liability Coverage, and Contingent Risk Liability Coverage on a deal-by-deal basis.

Product overview

First American Property & Casualty Insurance Agency (FAPCIA) operates as a surplus lines insurance brokerage offering Transactional Risk Solutions (TRS) for commercial real estate transactions. The product portfolio centers on TRS, a comprehensive insurance brokerage service that provides three distinct transactional risk insurance products: Representations & Warranties Insurance (protecting against breaches of reps and warranties), Tax Liability Coverage (protecting against failed tax positions), and Contingent Risk Liability Coverage (protecting against known legal risks). TRS works with brand name underwriters to review policy and coverage options, providing a centralized account management approach guided by commercial real estate industry veterans.

Differentiator

Problem solved

Functional benefit

Brands

• Transactional Risk Insurance (TRI): Insurance products covering identified and unknown risks for commercial real estate transactions, including Representations & Warranties, Tax Liability Coverage, and Contingent Risk Liability Coverage.
• Transactional Risk Solutions (TRS)

Products and services

• Transactional Risk Solutions A surplus lines brokerage practice that structures and places transactional risk insurance products for parties involved in commercial real estate deals. Includes a Central Account Manager model to coordinate coverage across multiple carriers and product lines for each transaction.
• Representations & Warranties Insurance Insurance coverage that protects buyers and sellers of commercial real estate against losses arising from breaches of representations and warranties made during the transaction.
• Tax Liability Coverage Insurance coverage that addresses tax-related liabilities arising from a commercial real estate transaction, including those linked to deferred like-kind exchanges.
• Contingent Risk Liability Coverage Insurance coverage that addresses contingent liabilities that may surface after closing of a commercial real estate transaction.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Brand Name UnderwriterscoreOthersTransactional Risk Solutions powered by FAPCIA works with brand name underwriters in reviewing policy and coverage options for the most cost-effective and comprehensive transactional risk insurance coverage tailored for each commercial real estate deal.

Recent moves5 records

Expansion highlights2 records

Direct peers

• Howden: Global specialty insurance group with a dedicated Transactional Risk (R&W) practice following its acquisitions of specialist brokers. Directly comparable to FAPCIA's TRS franchise as a focused R&W and contingent risk placement broker for M&A and CRE transactions.
• Brown & Riding: Specialty wholesale insurance brokerage with dedicated real estate and transactional risk capabilities. Comparable as a competing wholesale/surplus lines broker channel placing complex CRE-related coverages through carrier partners.
• Amwins: Specialty insurance wholesaler and brokerage with a dedicated transactional risk / M&A practice placing R&W, tax, and contingent liability coverage. Comparable to FAPCIA as a specialty broker leveraging brand-name underwriter relationships to serve CRE deal parties.
• RPS (Risk Placement Services): Specialty wholesale brokerage and MGA platform with a transactional risk practice placing R&W insurance for CRE and corporate transactions. Comparable in business model — placing specialty coverage through carrier partners on a deal-by-deal basis.
• Euclid Transactional: Boutique specialist insurance brokerage exclusively focused on Representations & Warranties and transactional risk insurance for M&A and real estate deals. Highly comparable to FAPCIA's TRS division in product mix (R&W, tax, contingent) and CRE-focused GTM.

Broad incumbents

• Marsh: One of the world's largest insurance brokerages, with a dedicated M&A and transactional risk practice placing R&W and tax liability coverage for commercial real estate transactions. Comparable as a competing placement channel for the same brokers and underwriters serving CRE buyers and sellers.
• Aon: Global insurance brokerage with a large Representations & Warranties practice that brokers R&W, tax, and contingent risk insurance for M&A and CRE transactions. Comparable as a multi-line insurance brokerage serving CRE deal parties, though much broader in scope than FAPCIA's focused TRS franchise.
• Alliant Insurance Services: U.S. specialty insurance brokerage with a Real Estate & Construction practice and transactional risk capabilities. Comparable as a competing surplus lines-style broker serving CRE buyers and sellers with multi-line coverage including R&W.
• Lockton: Largest independent insurance brokerage in the U.S., with specialty practices in real estate and transactional risk. Comparable as a competing brokerage placing CRE-related risk coverage, including R&W, through brand-name underwriters.
• Willis Towers Watson (WTW): Global advisory and insurance brokerage with a Transactional Risk practice that brokers R&W insurance for M&A and CRE deals. Comparable to FAPCIA in serving CRE transaction parties for R&W and contingent liability placements, though operating at much greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First American Property & Casualty Insurance Agency