The Main Street America Group · Jacksonville, FL United States
Company Description
Phone: 904-380-7281
Fax: 904-380-7244
Toll Free: 800-207-0446
View The Main Street America Group Locations On A US Map
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This link will open in a new window Who's your main insurance man? The Main Street America Group provides a range of personal and commercial property/casualty products including coverage for small and midsized businesses and individual auto and homeowners insurance plans. The company operates through its flagship subsidiary NGM Insurance, as well as its Old Dominion Insurance, MSA Insurance, and Main Street America Assurance businesses. Its Information Systems and Services Corporation offers third-party administration services such as broker management, policy processing, and underwriting services. Main Street America sells its products through more than 1,300 independent agents, primarily along the East Coast. To read the full description, subscribe now.
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Key The Main Street America Group Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| 2007 Sales (mil.) | $839.2 |
| Employees | 1,000 |
The Main Street America Group Executives
24 executives listed for The Main Street America Group's Jacksonville, FL location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Thomas Van Berkel | Network |
| EVP, CFO, and Treasurer | Edward Kuhl | Network |
| VP Information Technology and CIO | Ron James | Network |
Competition
Competitive Landscape for The Main Street America Group
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top The Main Street America Group Competitors
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