National Interstate Corporation operates as a property and casualty insurance company primarily in the United States. It sells traditional and alternative property and casualty insurance products.
The major clients of National interstate Corporation are passenger transportation, trucks, and road transport movers. The storage industry is also a major client of National Interstate. Personal owners of recreation vehicles also choose National Interstate Insurance.
National Interstate Corporation Review 2019
History – National Interstate Corporation was established in 1989. National Interstate grew through the years by providing insurance to truckers and movers. It also provided insurance to small businesses in Hawaii and Alaska. This gave them the niche of operations in those areas. Recently the Great American Insurance Group bought 49% of National Interstate Corporation.
Area of operations – Starting small, National interstate now covers all 50 states of the United States of America. It has one of the best-connected networks in the USA. National Interstate has also expanded overseas but with very limited success.
Services – National Interstate offers various services to multiple transportation classes. The major service being insurance cover provided for Fleet trucking, Propane haulers, Motor-coaches, School buses, Ambulances, Crane rigging, and specialty carriers. Most of the clients of interstate chose from an array of options and customization was done class-wide rather than individually.
Merger with Great American – Great American took over National interstate in 2016 but has not changed its name. Great American has plans to improve and modify the services provided by National Interstate Corporation. The company plans for expanding its business overseas as well.
Post-merger changes to services – The great American and National Interstate have plans to include the following array of services after the merger. Son trucking liability, physical damage, cargo, occupational accident insurance, contingent liability insurance, and general liability insurance for garage and garage keepers.
High credit rating – National Interstate has been rated between BBB-, this is a high credit rating and is used to describe financially sound organizations. Moody’s investor index also rates CNO at B1. This is closely followed by investors and is a major decider on investor sentiment.
Asset Value – When the American Financial Group took over the National interstate, the asset value of National Interstate was decided to be 320 million dollars. This is a very good asset position for an insurance company operating solely in the property and casualty segment of insurance.
Future of National Interstate – The management of National Interstate has displayed interest in expanding the business to include naval shipping insurance, although this is only speculation. National Interstate Corporation is bound to step into general insurance for the mainland of United States of America.
National Interstate Corporation is a holding company for multiple insurance companies dealing in Property and Casualty segment. Its major focus is on ensuring transporters. The National Interstate has grown at a decent pace since its incorporation and has acquired over 8 insurance companies. In 2016 National Interstate was Acquired by the American Financial Group. This merger has led to the formation of a very strong company prepared for providing insurance to various sectors.