First Acceptance Corp (FACO)

[Enterprising Investor]

First Acceptance Welcomes Ray Albertini as Senior Vice President of Claims Operations (9/07/16)

First Acceptance Corporation (NYSE:FAC) announces the addition of Ray Albertini as the Company’s Senior Vice President of Claims Operations. In this position, Ray will oversee all aspects of the Company’s claims-handling function and report directly to Joe Borbely, FAC’s President and CEO.

Prior to joining FAC, Ray served as the Vice President of Claims for both the Eastern and Western regions and Commercial Auto at Nationwide. Ray’s experience also includes special investigations and anti-fraud strategic leadership at both Nationwide and Progressive where he held various roles of increasing responsibility within its claims operations.

Joe Borbely commented, “Ray brings over 25 years of innovative experience to our Company. His broad and in-depth knowledge of claims-handling will serve as the foundation for strengthening our organization and its processes.”

Ray added, “I am delighted to be joining the Acceptance team, relocating to Nashville and becoming a part of this exciting and dynamic organization.”

About First Acceptance Corporation

We are principally a retailer, servicer and underwriter of non-standard personal automobile insurance based in Nashville, Tennessee. Our insurance operations generate revenues from selling non-standard personal automobile insurance policies and related products in 17 states. We conduct our servicing and underwriting operations in 14 states and are licensed as an insurer in 12 additional states. Non-standard personal automobile insurance is made available to individuals because of their inability or unwillingness to obtain standard insurance coverage due to various factors, including payment history, payment preference, failure in the past to maintain continuous insurance coverage or driving record and/or vehicle type.

At June 30, 2016, we leased and operated 410 retail locations and a call center staffed with employee-agents. Our employee-agents primarily sell non-standard personal automobile insurance products underwritten by us, as well as certain commissionable ancillary products. In most states, our employee-agents also sell a complementary insurance product providing personal property and liability coverage for renters underwritten by us. In addition, retail locations in some markets offer non-standard personal automobile insurance serviced and underwritten by other third-party insurance carriers for which we receive a commission. In addition to our retail locations, we are able to complete the entire sales process over the phone via our call center or through the internet via our consumer-based website or mobile platform. On a limited basis, we also sell our products through selected retail locations operated by independent agents. Additional information about First Acceptance Corporation can be found online at www.acceptance.com.