Does Meridian Security Insurance Still Sell Insurance?
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Asked February 20, 2013
Meridian Security Insurance was a fire and casualty insurance company based in Indianapolis, IN. The company sold primarily auto insurance, and has since been absorbed into the State Auto Insurance firm. Meridian Security Insurance today is only a holding company within the larger corporation and does not sell new insurance policies any longer.
Read State Auto reviews.
Meridian Security Insurance was founded in 1967, in Indianapolis. During the financial turmoil of 2007-2008, Meridian Security Insurance was bought by a larger company, strategically increasing the coverage area of the new parent company. At the time of their acquisition, Meridian Security Insurance has total assets of more than 61million dollars and working capital of over 5 million.
Meridian Security Insurance is not separately rated as a financial institution. Instead, the company inherits the financial grade rating of the parent company given by financial rating corporations such as the A.M. Best Company. As of May, 2012, State Auto Insurance was rated "A" (Excellent) and a long term outlook of "a." This was downgraded from the "A+" rating the company had previously enjoyed. State Auto Insurance has assets of greater than 750 million dollars, and is still considered a strong company even in light of their recent downgrade.
Insurance Products Offered
Meridian Security Insurance offered auto, home and business insurance. State Auto Insurance, the current owner of Meridian Security Insurance sells these and other types of liability and casualty coverage. Whether you are insuring a property, your business or a recreational vehicle, State Auto Insurance writes policies tailored to fit your specific needs.
Answered February 20, 2013 by Anonymous