AssuranceAmerica has received approval from the Tennessee Department of Insurance to write automobile coverages in Tennessee, US.
According to The National Association of Insurance Commissioners, Tennessee generates almost $3 billion in automobile insurance premium annually. Tennessee has been a profitable auto insurance market for nine out of the last 10 years. Its profit margin was 10.8% according to the latest reporting data distributed by Auto Industry Report.
Lawrence Stumbaugh, president and CEO 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.