Unico American Corp (UNAM.OQ) Company Profile _ Reuters.com business brokers denver

Unico american corporation, incorporated on february 25, 1969, is an insurance holding company. The company underwrites property and casualty insurance through its insurance company subsidiary. It also provides property, casualty and health insurance through its agency subsidiaries and provides insurance premium financing and membership association services through its other subsidiaries. The company’s operations are categorized between the company’s segment, the insurance company operation and other insurance operations. The company’s remaining operations constitute a range of specialty insurance services.

The company’s insurance company operation is conducted through crusader insurance company (crusader), its property and casualty insurance company.

Crusader is a multiple line property and casualty insurance company.Business brokers denver crusader is licensed as an admitted insurance carrier in the states of arizona, california, nevada, oregon and washington. Approximately 98% of crusader’s business is commercial multiple peril policies. Commercial multiple peril policies provide a combination of property and liability coverage for businesses. Commercial property coverage insures against loss or damage to buildings, inventory and equipment from natural disasters, including hurricanes, windstorms, hail, water, explosions, severe winter weather, and other events, such as theft and vandalism, fires, storms, and financial loss due to business interruption resulting from covered property damage. Commercial liability coverage insures against third-party liability from accidents occurring on the insured’s premises or arising out of its operation.Business brokers denver in addition to commercial multiple peril policies, crusader also writes separate policies to insure commercial property and commercial liability risks on a mono-line basis. Crusader sells its insurance policies through unifax insurance systems, inc. (unifax), crusader’s sister corporation and general agent. All policies are produced by a network of brokers and retail agents.

The company’s subsidiary, american acceptance corporation (AAC), is a licensed insurance premium finance company that provides insurance purchasers with the ability to pay their insurance premiums on an installment basis. The premium finance company pays the insurance premium to the insurance company in return for a premium finance note from the insured. These notes are paid off by the insured in over nine monthly installments and are secured by the unearned premium held by the insurance company.Business brokers denver AAC provides premium financing solely for crusader policies that are produced by unifax in california.

The company’s subsidiary, insurance club, inc., doing business as american association for quality health care (AAQHC), is a membership association and a third-party administrator. AAQHC provides various consumer benefits to its members, including participation in group medical and dental insurance policies that it negotiates. AAQHC also provides services as a third-party administrator and is licensed by the california department of insurance (CA DOI). For these services, AAQHC receives membership and fee income from its members.

The company’s subsidiary, american insurance brokers, inc. (AIB), markets health insurance in california as a general agency and an independent broker through non-affiliated insurance companies for individuals and groups.Business brokers denver the services provided consist of marketing, sales, and customer service. For these services, AIB receives commissions from insurance companies. AIB holds licenses issued by the california department of insurance (CA DOI).

The company’s other insurance operations generate commissions and fees from various insurance products. Unifax sells and services insurance policies for crusader. The insurance premium financing operation finances policies written only through its sister company, unifax. The company’s subsidiary, bedford insurance services, inc. (bedford), sells and services daily automobile rental policies in various states for a non-affiliated insurer. The daily automobile rental insurance program is produced by bedford. Bedford receives a commission from a non-affiliated insurance company based on premium written.Business brokers denver