State National’s Specialty and SNIC Affiliates Expand

Fort Worth-based State National Companies announced two of its affiliates have been awarded state authorizations to write multiple lines of insurance. Rhode Island granted an authorization to State National Specialty Insurance Company, while North Carolina awarded authorization to State National Insurance Company (SNIC), the affiliate rated “A” (Excellent) by A.M Best. This is the second new authorization for both State National affiliates in less than one month.

Effective October 2002, the state of Rhode Island authorization allows State National Specialty to write the lines of fire, allied lines, ocean marine, inland marine, other liability, full coverage automobile, aircraft, glass, burglary, and theft. This marks the seventh new authorization this year for State National Specialty and the sixteenth since its acquisition by State National Companies in March of 1999.

North Carolina granted State National Insurance Company (SNIC) authorization to write multiple lines of insurance, also effective October 2002. The certificate of authority includes writing fire, miscellaneous property, water damage, burglary and theft, glass, boiler and machinery, elevator, collision, personal injury liability, property damage liability, credit insurance, motor vehicle & aircraft, marine insurance, and marine protection and indemnity. With the addition of North Carolina, SNIC is now authorized to write insurance in 49 states and Washington, D.C.

Terry L. Ledbetter, president of State National Companies notes, “We are pleased to meet the approval of both the Rhode Island Department of Business Regulation and North Carolina’s Department of Insurance. This speaks positively for our business practices and financial strength. In the coming months, we look forward to gaining our final state authorization for SNIC and continuing our expansion of Specialty.”

Topics North Carolina