AssuranceAmerica, an Atlanta-based insurance company with operations in Georgia, Florida and South Carolina, has received approval from the Alabama Department of Insurance to commence insurance operations in that state.
In announcing approval of its carrier’s entrance into Alabama, Lawrence Stumbaugh, president and CEO, said, We feel it unwise to attempt to be ‘jack-of-all-trades’ from auto lines to homeowner lines to commercial lines. We think focusing on the non-standard personal auto niche makes us far more expert at growing our business the right way as opposed to just growing it any old way.
However, spreading risk and enlarging opportunity is wise in any business. Therefore, we choose to diversify, but to do so on the basis of geography. This approval of our carrier’s entry into Alabama is an important step in our previously announced plan to diversify into multiple states, Stumbaugh added.
AssuranceAmerica is a property and casualty insurance organization focused on the non-standard private passenger automobile insurance marketplace. It operates through its company-owned retail insurance agencies (TrustWay Insurance), its AssuranceAmerica Managing General Agency (MGA) and its AssuranceAmerica Insurance Company.