FCCI Car Insurance Claims
FCCI Insurance Group, Inc is a provider of casualty and commercial property insurance incorporating general liability, vehicle and mechanical breakdown, workers’ compensation, and umbrella cover. The company insures all aspects of the farming sector and has an inland marine division; as well as writing crime and dishonest acts of employees policies.
The company’s main customers are those in the contracting, manufacturing, farming, wholesalers / distribution, restaurant, hotel and retail sectors.
FCCI’s auto insurance division offers comprehensive coverage for owned vehicles, as well as for those that are rented, leased or hired. The company’s Auto Advantage Endorsement program offers a broader scope than typical auto insurance policies, to include loss of use and theft amongst other benefits. Policies written under the company’s agribusiness division offer general liability and breakdown protection. FCCI’s farm and ranch owners sector also provides vehicle coverage. Umbrella coverage is extended to all of the company’s policies.
History of FCCI Insurance Group
FCCI Insurance Group (FCCI) was originally established in 1959 in Sarasota, Florida to self-insure the members of the Sarasota General Contractors Association for workers’ compensation. In 1960, FCCI had only 28 members who paid in $52,000 in gross premiums. FCCI Investment Group, Inc was established in 1995, and in 1996 this company then changed its name to the FCCI Insurance Group, Inc. By 2008, the company had grown to 16,000 policy holders across 14 states, with $513.7 million in direct written premiums.
FCCI has 670 employees and sells its products by way of a network of independent brokers and agents. In 2009, the company won the AARP Best Employer for Workers over 50 award. AARP cited the company’s flexible work arrangements, and the option for workers to set aside funds in FCCI’s Dependent Care Reimbursement Account to insure care in their old age. 42% of the company’s workforce is over 50 and the average tenure of their workers is eight years or more.
FCCI Insurance Group uses SAS® Analytics Technology in order to improve its profitability, efficiency and ability to retain customers by garnering information from their data base, and thereby assisting underwriters to choose the best accounts and to better price their products. The company believes that by use of this data it will achieve a 1 to 1.5% improved ability to assess risks.
Financial Position of FCCI Insurance Group
Today, FCCI is one of the leading commercial casualty and commercial property insurers in the Midwest and Southeastern states of the U.S. The company operates regional offices in Indiana and Georgia and branch offices in Florida. The company intends to target expand to include seven more states by the end of 2010.
In fiscal results released for the end of December 2009, the company posted sales figures of $499.1 million, with a net income $27.6 million and income growth of 197%. FCCI has been rated by A M Best (a leading international rating agency) as A- (excellent).
