Farris Evans Insurance Agency in Tennessee Restructures Ownership

Farris Evans Insurance Agency (FEIA) of Memphis, Tenn., has restructured the ownership of the privately held firm and promoted Vice President Chadwick Willoughby, now a major equity holder of the company, to president.

The move became effective Jan. 20., when the firm’s majority owner and co-founder, Stan Evans, transitioned from being the firm’s president to chief executive officer.

Willoughby has been at FEIA, which specializes in trucking and transportation insurance, for the last five years.

Willoughby will spearhead the future growth of the company, including a continuation of rapid transitions in both technology and regulation.

He has 15 years of commercial insurance experience to the position, and has earned four commercial insurance designations: CIC, TRS, CWCC, and CLCS.