FOUNDER INSURANCE Company
FOUNDER INSURANCE Company is subsidiary of Nationwide Holdings, Inc. and is solely owned by Nationwide. FOUNDER INSURANCE Services specializes in the writing of Non-standard personal automobile coverage. Founders Ins mainly serves the Chicago area. Founders Insurance Company entered the automobile insurance market in 1989, when Illinois' mandatory auto liability insurance law went into effect.
Before 1993, when automobile coverage became the largest product line, Founders Insurance line of business was primarliy liquor liability. FOUNDER INSURANCE Co currently maintains an A- (Excellent) rating from A. M. Best. Recently Founders insurance has increased the market served beyond Chicago by expanding into downstate Illinois, Indiana, Wisconsin, Iowa, Michigan, Ohio, Alabama and Oregon. FOUNDERSINSURANCE serves its customers through about 300 independent agencies. Founders Insurance is also licensed in Arizona, Arkansas, Nevada and Pennsylvania.
FOUNDER INSURANCE was incorporated on August 25, 1972 as Illinois Founders Insurance Company under Illinois law to become successor to the Illinois Founders Mutual Insurance Company and started business September 30, 1972. Nationwide Holdings, Inc., Chicago, Illinois, acquired complete control of the company on June 15, 1982.
The company then operated as Illinois FOUNDER INSURANCE Company. Now the formal name has been changed to Founders Insurance Company on July 22, 1999.