American Traditions Insurance Co. (ATIC) has merged with its affiliate Modern USA Insurance Co. The two companies were launched under similar ownership shortly after the 2005 hurricane season to provide additional homeowners and manufactured home insurance options to the Florida marketplace.
Both American Traditions and Modern USA have been managed by the same team of insurance professionals.
President T John Jerger, Jr. said combining the affiliates will allow management to better plan for future opportunities, create a larger company with more surplus for policyholders, and allows it to focus on growth in niche markets.
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Modern USA Insurance Co. policyholders will receive written notification of the merger in addition to notification in their policy renewal offers over the coming months. Since the affiliate companies offer identical products with identical rates, the impact to Modern USA policyholders will be minimal.
As a result of this merger, American Traditions Insurance Co., which began insuring homes in Florida in 2006, will become one of the largest manufactured home insurance producers in Florida. The company will continue to issue policies throughout Florida.
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