User:SamXMorris/Tri-State Consumer Insurance Company
| Company type | Wholly Owned Subsidiary of Tri-State Consumer Inc [1] |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1982 [1] |
| Headquarters | |
Key people | Penny Hart, CEO |
| Products | Vehicle Insurance Home insurance |
| Total assets | US$107 million (2009)[3] |
Number of employees | 99 (2010) |
| Website | www.tscinsurance.com |
Tri-State Consumer Insurance (often known by its trade name TSC > Direct) is a U.S. insurance company headquartered in Jericho, New York on Long Island that offers Vehicle Insurance and Home Insurance. The company, a subsidiary of Tri-State Consumer Inc, was incorporated under the laws of the State of New York on November 30, 1982, licensed on October 28, 1985 and commenced business on March 9, 1986.[1]
Tri-State Consumer Insurance issues insurance policies only to residents of the greater New York City metropolitan area. [2]
Territory and Operations[edit]
Tri-State Consumer Insurance is only licensed to write business in the State of New and issues policies mainly to residents of in the five boroughs of New York City, Nassau County and Suffolk County.[4]
Tri-State is a property and casualty insurer. The majority of its business is auto insurance with a small exception of homeowner and umbrella polices.[1]
Financial Information[edit]
As of December 31, 2009, Tri-State Consumer Insurance Company had admitted assets of US$107,011,445 and policyholders surplus of US$40,992,129. It’s total liabilities were US$66,019,317 including US$43,785,943 in reserves. Paid up capital stock is US$1,001,000.[3]
In July 2010, A.M. Best Credit Rating Agency citing Tri-State's “improved risk-adjusted capitalization and profitable operating performance” upgraded Tri-State Consumer Insurance from negative to stable giving the company an A- (Excellent) rating.[5]