AutoOne Insurance, an insurance company that accepts Assigned Risks on behalf of its client insurance companies, has been approved as a servicing carrier to write personal auto assignments in eight new states and to write commercial auto assignments in three new states.
AutoOne will begin writing Assigned Risk policies in January 2005 for personal automobile drivers (LAD) in Pennsylvania, Texas, California, Connecticut, Vermont, Maine, Delaware and Washington, D.C., and for commercial automobile risk (CLAD) assignments in New York, Pennsylvania and Texas. The company will also begin writing Low Cost Auto policies in California.
Assigned Risks are those drivers who are unable to obtain automobile
insurance in the voluntary market. AutoOne has been an approved servicing carrier for personal auto assignments in New York since 2001 and in New Jersey since 2002.
“We are very excited about the upcoming year and look forward to extending our great service to both new clients and established ones,” said Carey Benson, AutoOne’s president and CEO. “We were fortunate to be approved so rapidly in all of the states where we applied. Expansion has allowed us to enhance our valued relationships with our current carrier clients. It has also increased the number of insurance companies we will serve in 2005 by over 65 percent.
“The new competition in these states has also caused the rates that
companies pay for Assigned Risk services to fall. Our client carriers can outsource this complex, mandated business to a sophisticated, financially solid organization and save money at the same time.”
AutoOne Insurance is a division of the OneBeacon Insurance Group, which is rated A (Excellent) by A.M. Best.
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