American Traditions Insurance Company Announces Merger With Affiliate Modern USA Insurance Company
PINELLAS PARK, Fla., June 1, 2018 /PRNewswire/ - American Traditions Insurance Company ("ATIC") announced today that it has merged with its affiliate Modern USA Insurance Company. The two companies were launched under similar ownership shortly after the 2005 hurricane season in an effort to provide additional homeowners and manufactured home insurance options to the Florida marketplace. Both American Traditions and Modern USA have been managed by the same team of insurance professionals whom have a combined 150+ years of experience in the insurance industry.
"We could not be more pleased with this merger and what this means for the future. Combining the affiliates will allow management to better plan for future opportunities. The merger means a larger company with more surplus for our policyholders. It also gives us the ability to strategically focus on growth in niche markets that allow the company to flourish more than ever before." said T. John Jerger, Jr, President.
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Do not make this costly mistake after you have had a loss to your property! Always contact your agent or insurance carrier first, following a claim. Check out this informative video that explains how Assignment of Benefits leads to higher insurance rates.
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With the National Flood Insurance Program (NFIP) currently set to expire on February 8, and many communities still recovering from this summer’s hurricanes, it’s no surprise that the 21st Century Flood Reform Act has passed the House and moved to the Senate.