Regional Focus

Former Speaker of the House Tip O’Neill was attributed with the comment that “all politics are local.” The same could be said for the insurance industry—insurance coverage is definitely local. In addition, there continues to be a shift of business within the independent agency distribution system from national carriers to regional carriers, according to the Independent Insurance Agents and Brokers of America’s recent market share report.

With this in mind, Insurance Journal asked Demotech Inc. to develop and coordinate “Regional Focus,” to highlight the products, services, financial strength and agency relationships of regional insurance companies. Demotech will be contacting regional insurance companies nationwide to solicit information. To submit information, contact Demotech at (800) 354-7207, fax information to (614) 761-0906 or e-mail regionalfocus@demotech.com. Please include complete contact information.

Hochheim Prairie
Hochheim Prairie Farm Mutual Insurance Association and Hochheim Prairie Casualty Insurance Co. strive to be the leading providers of property insurance for Texas towns with populations under 10,000. At its request, the company was not assigned a rating by the A. M. Best Company. However, it earned a Financial Stability Rating of S, Substantial from Demotech.

Products and services offered include personal automobile insurance, homeowners insurance and related coverages, dwelling fire and extended coverage as well as personal property inland marine coverage. The companies distribute products through independent agencies. Both companies are licensed in Texas and can be contacted at (361) 293-5201, or visit www.hochheim.com.

Oklahoma Farmers Union Mutual
Oklahoma Farmers Union was organized in 1905. Today, with nearly 120,000 family memberships across Oklahoma, they allocate a portion of the insurance premiums generated from Oklahoma Farmers Union Mutual Insurance Company to support family agriculture and projects in rural areas.

Oklahoma Farmers Union earned a Financial Stability Rating of A, Exceptional from Demotech. This level of Financial Stability Rating facilitates the acceptance of policies by mortgage lenders and the secondary mortgage marketplace. The company was not eligible for a rating from A. M. Best.

Licensed in Oklahoma, it writes personal automobile liability and physical damage, homeowners insurance, farmowners insurance and related miscellaneous coverages. For more information, contact (405) 789-5666 or visit www.okfarmersunion.com.

Imperial Fire and Casualty
Imperial Fire and Casualty Insurance Co., domiciled in Louisiana, was formed in 1990 and began writing business in 1991. Recently it experienced a change in management and a capital infusion to complement its anticipated growth.

The company received an A.M. Best rating of “B+.” However, Imperial Fire and Casualty earned a Financial Stability Rating of A, Exceptional from Demotech.

Its main line of business is non-standard private passenger automobile insurance written through independent agencies. The company offers three different finance programs for independent agents, including monthly direct bill, semiannual direct bill and semiannual agency bill.

The company is licensed in Alabama, Arizona, Georgia, Indiana, Louisiana, Mississippi, Nevada and Texas. For more information, contact (337) 942-5691 or visit www.imperialmanagement.com.

Tank Owners Mutual
Tank Owners Mutual Insurance Co. is the successor to a risk retention group that was formed by oil marketers in 1990 to underwrite pollution liability for underground storage tanks. In 1996, TOMIC became a mutual insurer. The company is not eligible for a rating from the A. M. Best. However, it earned a Financial Stability Rating of A, Exceptional from Demotech.

TOMIC is one of the few companies writing pollution coverages as an admitted insurer. State groundwater protection acts fulfill only the necessary cleanup provisions of the EPA and state regulations. Tank owners still need to purchase third party liability insurance for personal injury and property damage claims. Since Dec. 22, 1998, Texas-based tank systems are no longer eligible for protection from the UST Clean-Up Fund. Tank Owners offers this protection.

The company is licensed in Texas only. For additional information, contact (817) 336-1336 or visit www.tankowners.com.

Editor’s Note: All rating related information should be verified by visiting the Web sites of the respective services.

Joseph L. Petrelli is president and founder of Demotech Inc. Visit www.demotech.com.

Topics Carriers Texas Agencies Agribusiness AM Best Oklahoma Pollution