Profile
Steven A. Hankoff
Born in Baltimore, Maryland in 1957, Steven A. Hankoff attended public school through grade 12, graduating in 1975. He attended the University of Maryland, College Park from 1975 – 1979, making “Deans List” in his first semester, and graduating in 1979 with a Bachelor of Science Degree in Business Administration.
In the summer of 1979, he attended East Texas State University to qualify to be licensed in the insurance business, finishing in the top 5% of his class.
In September 1979, he obtained a Maryland License to sell Property & Casualty, Life & Health, Insurance in the State of Maryland.
From 1979 to 1982, he attended and passed the PIA Institutes qualifying for a C.I.C. Designation (Certified Insurance Counselor), and was in the first graduating class in the State of Maryland in May 1983.
In 1981, he was invited to the Aetna Casualty & Surety agent school, in Hartford, CT earning a “Blue Ribbon” finishing in the top 10% of his class.
In 1979, Mr. Hankoff became an agent with Hankoff & Company, Inc. concentrating on sales of Commercial lines, personal lines, life and health insurance. In 1985, Mr. Hankoff became involved in the Management and Accounting of the agency.
In 1991, Mr. Hankoff formed Hankoff Insurance Group, Inc.(“HIG”), purchasing the assets of Hankoff & Co., Inc. Mr. Hankoff is the President of HIG.
Since forming HIG, Mr. Hankoff has increased premium volume from approximately $2.75 Million to approximately $7 Million as of year-end 2009.
In the 1950’s Mr. Hankoff’s grandfather, Fred Hart was instrumental in the formation of Maryland Indemnity Insurance Company for the purpose of insuring taxicabs and served on its board until it was eventually sold in 1961. Joseph Hankoff, Mr. Hankoff’s father joined Fred Hart, in the retail agency business in 1952, where his taxicab following in the Baltimore metropolitan area began. Steven Hankoff has expanded the taxicab business concentrating on suburban and airport taxicabs.
Throughout Mr. Hankoff’s tenure in the agency business, he has seen taxicab insurers come in and out of the marketplace. HIG was at the mercy of wholesale MGA’s until partnering with a national insurance company in 1999, as Program Manager of the Maryland Taxi Program where the agency has full responsibility for underwriting, rating and policy issuance for the State of Maryland. HIGs insurance partner ranks HIGs taxicab program as its most profitable in the country.