Former Speaker of the House Tip O’Neill was attributed with the comment that ‘all politics are local.’ The same could be said for the insurance industry—insurance coverage is definitely local. In addition, there continues to be a shift of business within the independent agency distribution system from national carriers to regional carriers in both commercial and personal lines, according to the Independent Insurance Agents and Brokers of America’s recent report on market share.
With this in mind, Insurance Journal and Demotech Inc. believe regional insurance companies deserve a forum dedicated to the dissemination of pertinent information impacting regional companies, their employees and agents. To address this need, Insurance Journal has asked Demotech Inc. to develop and coordinate ‘Regional Focus,’ to highlight the products, services, financial strength and agency relationships of regional insurance companies. If it is important to you, your agents or your insureds, it is important to us.
Demotech will be contacting regional insurance companies nationwide to solicit information. However, if you would like to submit information, call Demotech at (800) 354-7207, fax to (614) 761-0906 or send an e-mail to regionalfocus@demotech.com. Please include complete contact information so that we can forward an acknowledgement.
National Security Group
Initially founded in 1947, the National Security Group Inc. is a family of companies committed to preserving the financial security of individuals and families by providing a diversified line of insurance products and services through independent agencies. The company is publicly traded on NASDAQ under the symbol, NSEC.
The family includes: National Security Insurance Company, National Security Fire and Casualty Company, and Omega One Insurance Company. National Security Group earned a Financial Stability Rating of A’, A prime, Unsurpassed from Demotech Inc. This level of Financial Stability Rating facilitates the acceptance of policies by mortgage lenders and the secondary mortgage marketplace. The companies also were assigned an A.M. Best rating of “B++.”
National Security Fire and Casualty Company is licensed in Alabama, Arkansas, California, Florida, Georgia, Mississippi, Oklahoma, South Carolina and Tennessee. The company also writes business in Kentucky, Louisiana, Missouri and Texas on a surplus lines or a non-admitted basis. Call (334) 897-2273 or visit www.nationalsecuritygroup.com.
QualSure Insurance Corporation
QualSure Insurance Corporation was launched in January 2000 with some 83,000 policies taken out of the Florida Joint Underwriting Association and the Florida Windstorm Underwriting Association.
QualSure is not yet eligible for a rating from the A. M. Best Company. However, the company has earned a Financial Stability Rating of A, Exceptional from Demotech Inc. This level of Financial Stability Rating facilitates the acceptance of QualSure policies by mortgage lenders and the secondary mortgage marketplace.
The company is licensed in Florida, and writes homeowners insurance and related products through independent agents. Call (941) 363-0927 or visit www.qualsure.com.
Florida Family
Florida Family Insurance Company is a Florida-domiciled property insurer, writing homeowner, condominium, dwelling fire and flood policies in Florida. Florida Family Insurance Services LLC is the company’s exclusive managing general agent. Both companies are located in Naples, Fla.
Florida Family has earned a Financial Stability Rating of A’, A prime, Unsurpassed from Demotech Inc. This level of Financial Stability Rating facilitates the acceptance of policies by mortgage lenders and the secondary mortgage marketplace. The company also was assigned a Best rating of “B+.”
The company’s products include homeowners and related coverages such as inland marine and dwelling fire as well as personal automobile insurance products. Florida Family Insurance products are distributed through Florida’s independent agency system.
The company is licensed in Florida only. Call (888) 850-HOME (4663) or visit www.flfamily.com.
North Carolina Grange Mutual
Commencing business in 1934, North Carolina Grange Mutual Insurance Company specializes in property insurance in North Carolina.
North Carolina Grange Mutual has earned Financial Stability Rating of A, Exceptional from Demotech Inc. This level of Financial Stability Rating facilitates the acceptance of policies by mortgage lenders and the secondary mortgage marketplace. The company is ineligible for a rating from the A. M. Best Company.
The company is one of the largest writers of farm and rural property insurance in North Carolina. They offer several insurance products for homes, farms, mobile homes, churches and small businesses throughout the state.
The company is licensed in North Carolina only. Call (336) 294-5336 or visit www.ncgm.com.
Editor’s Note: All rating related information should be verified by visiting the Web sites of the respective services.
This article was written by Joseph L. Petrelli, president and founder of Demotech Inc. For more information, visit www.demotech.com.
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