Does Platte River Insurance Company Still Sell Insurance?
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Asked April 1, 2013
Platte River Insurance Company was a stock insurance company based in Madison Wisconsin as a fire and casualty insurer. Today, Platte River Insurance Company no longer sells insurance, acting instead as a holding company for the parent company, Capitol Insurance Company.
Platte River Insurance Company was founded in 1982.At the time of their acquisition by Capitol Insurance Company, Platte River Insurance Company had total assets of 158 million dollars and a net surplus of 24 million dollars. While there is no longer a paper trail, it is safe to assume that Platte River Insurance Company fell victim to the economic turmoil of 2007-2008, just as many other insurance companies did at that time.
Platte River Insurance Company is no longer individually rated. Today, their rating is inherited from the parent company, Capitol Insurance Company. In February of 2013, Capitol Insurance was last rated by the A.M. Best financial ratings company, at which time they were rated "A" (Excellent), only two grades below the top rating possible. At that time, the company was given a long term outlook of "a," which is currently considered a stable rating.
Insurance Products Offered
Platte River Insurance Company provided insurance primarily to private property owners, although the company did provide business insurance. Their primary forms of insurance were auto, home, boat, and airplane coverages. Auto insurance includes car, truck, RV, ATV, and other personal craft.
Answered April 1, 2013 by Anonymous