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First Acceptance Corp  (FAC)
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First Acceptance Corp

Business Description


First Acceptance Corp is a specialty insurance company that primarily operates in the non-standard auto insurance market in the United States. The company was founded in 1969 and is headquartered in Nashville, Tennessee.

First Acceptance provides insurance coverage for drivers who may have difficulty obtaining insurance from standard insurance companies due to reasons such as a poor driving record, a history of accidents or violations, or other risk factors. The company*s focus on the non-standard market allows it to serve a niche customer base that may have limited options for obtaining affordable auto insurance.

The company offers a wide range of insurance products including liability coverage, physical damage coverage, and uninsured/underinsured motorist coverage. First Acceptance operates through a network of retail locations, which allows customers to interact with agents in person and receive personalized service. The company also offers online quoting and purchasing options for added convenience.

In addition to auto insurance, First Acceptance also provides renters insurance and motorcycle insurance. This diversification of product offerings allows the company to meet the insurance needs of a broader customer base.

First Acceptance aims to differentiate itself by providing competitive rates and superior customer service. The company prides itself on its ability to understand and meet the specific needs of its customers, while also maintaining a strong focus on risk management.

Financially, First Acceptance has faced some challenges in recent years. The company has reported declining revenues and profitability, which have led to strategic initiatives aimed at improving its financial performance. These initiatives include a focus on underwriting profitability, expense reduction, and enhancing operational efficiencies.

Despite the financial difficulties, First Acceptance has continued to expand its presence in the non-standard auto insurance market. The company has sought to increase market share through initiatives such as targeted marketing campaigns to attract new customers and retain existing ones.

Overall, First Acceptance Corp is a specialty insurance company that specializes in providing non-standard auto insurance coverage. While it has faced financial challenges, the company remains committed to serving its niche customer base and improving its financial performance through various strategic initiatives.



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