Dealers Assurance Company Rating Affirmed at A-(Excellent) by A.M. Best.COLUMBUS, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. -- Dealers Assurance Company (DAC See D/A converter and discretionary access control. DAC - Digital to Analog Converter ) today announced that A.M. Best has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its rating of A-(Excellent). The rating represents A.M. Best's independent opinion of DAC's financial strength and ability to meet its ongoing obligations to policyholders. The affirmation A solemn and formal declaration of the truth of a statement, such as an Affidavit or the actual or prospective testimony of a witness or a party that takes the place of an oath. An affirmation is also used when a person cannot take an oath because of religious convictions. of the rating was made following the contribution by DAC's parent, SouthwestRe Holdings, Inc., of $9 million in additional capital, raising DAC's policyholders' surplus to approximately $24 million, a move sparked by substantial growth in automobile service contract and warranty premiums in 2005. DAC also announced the appointment of Kirk A. Borchardt to serve as its Chief Executive Officer and a member of the board of directors. Mr. Borchardt was formerly a partner in the Chicago law firm of Lord, Bissell & Brook and has served the insurance industry for more than 25 years. "I am proud to join Dealers Assurance at a very exciting time in its history," said Mr. Borchardt. "With the infusion of additional capital and the proven loyalty of its clients and producers, the company is uniquely positioned to serve the community of independent service contract and warranty providers." About Dealers Assurance Company Dealers Assurance Company, an Ohio-domiciled insurer with its home office in Columbus, Ohio, is a specialty property and casualty insurance carrier licensed in 47 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . It underwrites automobile and consumer products service contracts, limited warranties Limited warranty A warranty with certain conditions and limitations on the parts covered, type of damage covered, and/or time period for which the agreement is good. , and ancillary after-market products sold by more than 3,500 automobile dealerships nationwide. |
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