AssuranceAmerica wins Pennsylvania authorization
Pittsburgh Business Times
The Pennsylvania Department of Insurance has approved AssuranceAmerica Corp.'s insurance carrier to write automobile coverages in that state.
The approval means Atlanta-based AssuranceAmerica (OTCBB: ASAM) can now operate in 10 states.
"Our approval to write in Pennsylvania continues our push for geographical diversification," said Lawrence 'Bud' Stumbaugh, president and CEO of AssuranceAmerica. "We think our growth opportunities and our potential for profit are enhanced when we do business in varying economic environments and differing weather patterns. With our current concentration in the Southeast and Southwest, we feel we've made a smart strategic move by gaining approval in another mid-Atlantic state next door to West Virginia where we had earlier been approved."
AssuranceAmerica focuses on the non-standard automobile insurance marketplace, primarily in Florida, Georgia, Alabama, Louisiana, Texas and South Carolina. Its principal operating subsidiaries are TrustWay Insurance, AssuranceAmerica Managing General Agency and AssuranceAmerica Insurance Co
