Infinity Car Insurance Claims

Infinity Property & Casualty Corporation is a publicly traded insurance provider trading on NASDAQ as IPCC. It is most commonly known simply as Infinity. This insurance company is a national provider of various types of insurance in the United States and is rated as being among the top 50 U.S. casualty and property insurance companies.

Infinity Auto Insurance

One of its brand name companies, Infinity Insurance, is the second largest writer of non-standard auto insurance policies sold by independent agents in the United States. The company writes three specific kinds of personal car insurance policies, the difference between them being the type and amount of coverage provided. It also offers special policies for commercial vehicles and for exotic and classic cars.

In its position as the second largest issuer of non-standard car insurance, Infinity focuses on those individuals who are not able to obtain coverage from other vehicle insurance companies. This may stem from having had accidents in the past, prior DUIs, their age (under 25 or over 55) and many other reasons.

Non-standard insurance is also offered as commercial vehicle coverage for businesses which employ drivers who may pose a risk. The company targets commercial operations which run fleets of up to twelve vehicles.

The company offers policies for those who wish only to meet their state’s minimum legal insurance requirements and more extensive coverage for drivers who do not have unblemished driving records. Their value-added policies, which offer wider coverage than the minimum coverage policy, are for those who may have violations on their driver’s record, but still want to protect their assets. Their final target market is the premier policy, which is for those drivers who wish to have better coverage and who have a clean driver’s record.

History of Infinity (IPCC)

Infinity’s history dates as far back as 1950, with roots in a number of previous companies. One of Infinity’s subsidiaries, Infinity General Insurance Company (formerly Coventry Insurance Company) was established in 1960 to provide general insurance services. In December 2002, a new company arose when the American Financial Group transferred all the outstanding common stock it held in Infinity Insurance Companies, Windsor Auto, Leader Insurance, Great American Personal Lines and Atlanta Casualty Companies to the Infinity Property & Casualty Corporation. After completing an IPO in February 2003, the company started trading on the NASDAQ Stock Exchange as a public company under the symbol IPCC.

Infinity operates from its headquarters in Birmingham, Alabama with more than 2,100 employees. Over 14,000 independent agents represent Infinity across the country. Infinity is licensed to issue insurance policies in all the states of the US, but chooses to target urban areas specifically in California, Florida, Texas, Georgia, Arizona, Nevada, Pennsylvania, Illinois and Connecticut.

Financial Position of Infinity (IPCC)

In 2005 the company’s assets and premiums amounted to $989 billion and by 2006 the company’s revenue was $1.1 billion. Infinity has been rated by A M Best as A (excellent) for its financial strength and bbb (adequate) for its long term debt; Standard and Poor’s rating is A (strong) is for its financial strength and BBB (adequate) for its long term issue credit; Moody’s is A2 (good) on its financial strength and Baa2 on its long term obligations; and Fitch gives it an A (strong) for financial strength and BBB (good credit quality) on its long term issuer rating.