Is Victoria Fire and Casualty a Good Company?
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Asked April 1, 2013
Victoria Fire & Casualty Company began as a credit-based insurer, and later expanded into more traditional markets, including auto and business insurance packages. At the time of the company's acquisition by Nationwide Mutual, the company reported total assets of over 400 million dollars, including working capital of more than 2.25 million dollars. Even though Victoria Fire & Casualty Company still sells insurance today, they are now considered part of the Nationwide Mutual Group.
Victoria Fire & Casualty Company became a publicly traded stock company in 1983. In 1985, the company added non-standard auto insurance in Ohio to its portfolio. Between 1985 and 2003, the company slowly expanded their non-standard auto insurance into other states, including Alabama, Arizona, among a total of 26 states. Victoria Fire & Casualty Company was acquired by the Nationwide Mutual Insurance Company in 2003. Today, Victoria Fire & Casualty Company serves a total of 39 states, but can refer interested parties to sister Nationwide companies within the states where Victoria Fire & Casualty Company is not authorized to conduct business.
Victoria Fire & Casualty Company is not individually rated, but inherits the rating of Nationwide Mutual, the parent company. In March of 2012, the A.M. Best Company gave Nationwide Mutual a rating of "A+" (Superior), with a negative long-term outlook of "aa-." This most recent change was a downgrade of the previous rating. Nationwide reports assets of more than 2 billion dollars.
Insurance Products Offered
Victoria Fire & Casualty Company sells insurance of three main types: auto, heath, and business. In addition to traditional auto insurance, the company also insures boats, RVs, ATVs and other non-standard privately owned vehicles. Because the company is now owned by the Nationwide Insurance Company, their product portfolio has expanded even further, providing customers with access to the broader range of Nationwide Insurance products.
Answered April 1, 2013 by Anonymous