AssuranceAmerica Expands to Alabama; Writing Auto Policies

AssuranceAmerica Corporation has announced its expansion into Alabama’s auto insurance market with sales of its first auto insurance policies in the state. The Atlanta-based company is represented by more than 300 independent agents and now markets auto policies in Alabama, Florida, Georgia and South Carolina.

“Having grown up in Selma from 1 year old until I left for college, I’m exceptionally thrilled about entering my home state to do business,” Lawrence “Bud” Stumbaugh, AssuranceAmerica CEO said. “Our company is also excited that for the first time we will use a credit scoring process that we believe will enable us to more precisely match price with risk. Very few companies our size have invested in and embraced this powerful rating tool, which helps determine a driver’s propensity to have or avoid accidents.”

AssuranceAmerica focuses on the specialty automobile insurance marketplace. Its principal operating subsidiaries are TrustWay Insurance Agencies, which sell personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency and AssuranceAmerica Insurance Co.

Established in 2000, AssuranceAmerica Managing General Agency develops and markets insurance products, underwrites insurance risks, adjusts insurance claims and binds new policies. In 2002, AssetAmerica and AssuranceAmerica Managing General Agency wrote an aggregate of approximately $56 million dollars in premiums. AssuranceAmerica Insurance Company, which was formed in the fourth quarter of 2002, began writing business in the state of Georgia on April 1, 2003.