AssuranceAmerica Corporation Announces Writing Its First Auto Insurance Policies in Alabama and First Use of Credit Scoring in Pricing Risks.ATLANTA -- Atlanta based ASSURANCEAMERICA CORPORATION (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: 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 .OB), announced that today it wrote its first auto insurance policies in Alabama. This makes the fourth state in which the corporations' carrier or 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. sells its automobile insurance coverages, and the first time it has employed credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. as an additional factor in determining prices. In announcing expansion into Alabama, 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 Corporation said, "Having grown up in Selma from one year old until I left for college, I'm exceptionally thrilled about entering my home state to do business with those needing another choice for auto insurance. Our company is also excited that for the first time we will use a credit scoring process that we believe will enable us to more precisely match price with risk. Very few companies our size have invested in and embraced this powerful rating tool that helps determine a driver's propensity to have or avoid accidents. It will be one of our means to save money for those who are less likely to incur accidents. We are pleased to now have a product developed that is being sold by the independent agents in Alabama that we have appointed for that purpose." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Florida, Georgia, Alabama and South Carolina. Its principal operating subsidiaries are TrustWay Insurance Agencies, which sells personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency, and AssuranceAmerica Insurance Company. 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. |
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