National Interstate Corporation · Richfield, OH United States ·(NASDAQ (GM): NATL)
Company Description
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This link will open in a new window National Interstate is a specialty property/casualty insurer that concentrates on the transportation market. One of the nation's largest insurers of truck and passenger transportation fleets, the company also provides personal lines of coverage for recreational vehicles, watercraft, and campsite liability. Additionally, National Interstate offers general commercial insurance for small businesses in Alaska and Hawaii. The company distributes its products through both affiliated and independent agents and brokers. National Interstate was spun off in 2005 by its former parent company American Financial Group , which continues to control the company through a 53% stake held by its Great American Insurance Company . To read the full description, subscribe now.
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Key National Interstate Corporation Financials
| Company Type | Public - NASDAQ (GM): NATL Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $293.7 |
| 2008 Employees | 358 |
National Interstate Corporation Executives
14 executives listed for National Interstate Corporation's Richfield, OH location.
| Title | Name & Bio | Contact |
| Chairman | Alan Spachman | Network |
| President and CEO | David Michelson | Network |
| VP, CFO, and Treasurer | Julie McGraw | Network |
Competition
Competitive Landscape for National Interstate Corporation
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top National Interstate Corporation Competitors
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