State Auto Insurance Companies
Business name: State Auto Insurance Companies
Description: Property and Casualty
Headquarters: 518 EAST BROAD STREET
COLUMBUS, OH 43215
Phone Number: 614-917-5995, (833) 724-3577
President: Mike LaRocco
Website: www.stateauto.com
Founded on: 23-08-1939
Licensed & works in: All 50 states
License Number: B422559
State Auto Group A.M. Best Rating: A- (Excellent)
NAIC Number :25135
Industry:
Insurance CarriersAgencies, Brokerages, and Other Insurance Related ActivitiesInsurance Carriers and Related ActivitiesFinance and InsuranceFire, marine and casualty insurance and carriersSee all industries
About State Auto Insurance Companies
State Auto Insurance Companies was established in 1921. It has since grown from a regional player to a dominant presence in the region through steady acquisitions.
State Auto Financial’s insurance subsidiaries are part of the State Auto Group. The State Auto Group sells its insurance products across the United States through independent insurance agencies which includes wholesale brokers and retail agencies.
The A.M. Best Company rates the State Auto Group as A- (Excellent).
It includes State Automobile Mutual and State Auto Property & Casualty. Patrons Mutual, Rockhill Insurance and Plaza Insurance. American Compensation and Bloomington Compensation are also included in the State Auto Group.
All the companies mentioned above are based in Columbus, OH.
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Products of state Automobile Insurance company
State Automobile Mutual Insurance company offers both personal and commercial property/casualty coverage in the US through a number of subsidiaries. It holds 61.9% in publicly traded State Auto Financial. This, in turn, has a number of insurance subsidiaries.
State Auto Insurance Companies collectively sell their products through more than 2,600 independent agencies across the US. They are all part of a pooling arrangement where State Auto Group takes on the losses, premiums and expenses for each company and then returns a percentage to the participants according to pre-arranged percentages. The balance of the pooled company is retained by State Auto Group.
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Operation Of State Auto Insurance Companies
State Auto Group’s Rockhill Holding unit insures specialty excess and surplus insurance on small and medium-sized commercial markets across most US states. The Group has announced that it will be closing the surplus and excess business. Rockhill also offers workers’ compensation products. Other subsidiaries of the group include SA Wisconsin and Meridian Security. Patrons Mutual also provides property/casualty insurance.
Marketing Strategies
State Auto Group has adjusted the pricing of its personal lines products and offered discounts to customers who invest in smart home technology. It also closed down certain businesses, including commercial transportation and its specialty unit. The group has also invested in additional agencies and upgraded its technology platforms. These changes have allowed the group to grow new business and reduced its net losses significantly.
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