AssuranceAmerica Corporation Announces Approval to Write Insurance in Tennessee, its 15th State.ATLANTA -- Atlanta based AssuranceAmerica Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASAM ASAM American Society of Addiction Medicine ASAM Advanced Surface-to-Air Missile ASAM Advanced Services Access Manager ASAM ATM Subscriber Access Multiplexer (Alcatel) ASAM Association for Solidarity with Asylum Seekers and Migrants ) today announced that its insurance carrier has been approved by the Tennessee Department of Insurance to write automobile coverages in that state. According to The National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. , Tennessee generates almost $3 billion in automobile insurance premium annually, making it one of the top twenty states in the United States. Auto Industry Report reported that Tennessee has been a profitable auto insurance market for 9 out of the last 10 years. Its profit margin was 10.8% according to the latest reporting data distributed by Auto Industry Report. In announcing Tennessee's approval, Lawrence (Bud) Stumbaugh, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AssuranceAmerica said, "Our admission into Tennessee is yet another step forward in our geographic expansion plans. We look forward to beginning to write auto policies on behalf of our neighbors just north of our corporate headquarters." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, Texas, Arizona and Indiana. Its principal operating subsidiaries are TrustWay Insurance Agencies, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Agency"), which primarily sells personal automobile insurance policies through its 50 retail agencies, AssuranceAmerica Managing General Agency LLC ("MGA (1) (Monochrome Graphics Adapter) A display adapter that employs Hercules Graphics, combining graphics and text on a monochrome monitor. (2) (Matrox Graphics Accelerator) A trade name used by Matrox Graphics Inc. "), which markets the company's insurance products through over 1,800 participating independent agencies, and AssuranceAmerica Insurance Company ("Carrier"). This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, as discussed in the Company's filings with the U.S. Securities Exchange Commission (SEC). Historical results are not indicative of future performance. |
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