Atlas Financial Holdings, Inc. has started selling its core commercial automobile insurance products in Utah, becoming the 31st state where Atlas is actively underwriting.
Atlas’ insurance subsidiaries, American Country Insurance Co. and American Service Insurance Co., Inc., distribute their specialty insurance products focused on “light” commercial auto industries (taxi cabs, non-emergency paratransit, limousine/livery and business auto) through a network of retail independent agents. Together, American Country and American Service are licensed to write property and casualty insurance in 47 states throughout the United States.
During 2011, Atlas expanded its core commercial automobile insurance product offering in a total of 10 additional states, with another 7 states added in 2012. With the addition of Utah, Atlas is now actively underwriting in 31 states across the U.S. and views this as the primary near-term distribution footprint. Atlas identified its target geographies based on market size (amount of expected premium), regions where it believes its niche expertise and strategic focus on commercial auto is a competitive advantage over its peers, and favorable legal and statutory environments.
While Atlas may continue to expand into new states in the future, it now will begin to transition from geographic expansion to a vertical growth strategy as it enters the second half of 2012, with an emphasis on generating more business from existing agents.