Green Bay, Wis. - Amex Assurance Company, a subsidiary of the American Express Property Casualty companies, is selling policies to New Jersey drivers directly over the Internet. The Green Bay, Wis., company has sold property/casualty insurance since 1986 and writes auto insurance in 38 states and Washington, D.C. It's the fourth new firm, following Mercury General, GEICO and Esurance, to enter the auto insurance market since legislative reform began two years ago in what is called one of the most heavily regulated states.
It's expected that Amex Assurance will be spun-off of American Express Financial Corporation, and will change its name as of August 1 to Ameriprise Auto & Home Insurance.
Source: The Star Ledger
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