Federated National Insurance Signs Agreement With AAA Club South
17 November 2000
Federated National Insurance Company Signs Statewide Marketing Agreement With AAA Club SouthPLANTATION, Fla., Nov. 16 Federated National Insurance Company, wholly owned subsidiary of 21st Century Holding Company , which is a vertically integrated financial services holding company, is pleased to announce the signing of AAA Club South to it's growing list of producers. AAA executed an agreement with Assurance MGA to begin marketing Federated National's property and casualty insurance through their 47 agencies, and 3.2 million members, in the state of Florida. "The name AAA has come to be a benchmark of superior service and value to its many millions of members nationwide. Federated National is proud to be a part of such a renowned organization and is looking forward to a long lasting relationship as we expand our product lines to other areas of the country," said Richard A. Widdicombe, President of Federated National Insurance Company. AAA has long been known as a leader in providing travel and emergency road service to it's members. Over the last six years they have become one of the largest independent insurance agency chains in the state. AAA and other Federated National producers will utilize the Company's new state-of-the-art processing system, which will provide immediate policy numbers and declaration pages for insureds. This system eliminates the delay in relaying important documentation to the insureds and their mortgage companies. 21st Century Holding Company manages its insurance underwriting, distribution and claims process through its subsidiaries. * The Company underwrites standard and non-standard personal automobile insurance and mobile home, property and casualty insurance in the state of Florida through its subsidiary, Federated National Insurance Company. * The Company has underwriting authority for third-party insurance companies, which it represents through a wholly owned managing general agent, Assurance Managing General Agents, Inc. * Claims made by Federated National's insureds are internally processed by a wholly owned claims adjusting company, Superior Adjusting, Inc. * The Company also offers premium financing to its own and third party insureds through a wholly owned subsidiary, Federated Premium Finance, Inc. * Express Tax Service, Inc., an 80% owned subsidiary, licenses its brand name and its software to retail tax preparers and over the Internet * The Company has applied for a charter to open the proposed FedFirst Bank, a Federally-Chartered Thrift * The Company offers other ancillary services including electronic income tax filing, tax preparation and tag & title transfer services through Federated Agency Group, Inc., also a wholly owned subsidiary.