First Acceptance Corp (FACO)

[56Chevy]

Company Description

First Acceptance Corporation is a retailer, servicer and underwriter of non-standard personal automobile insurance. It operates through two segments: Personal automobile insurance & Real estate & Corporate. The Personal automobile insurance segment provides drivers with coverage for liability to others for bodily injury and property damage and for physical damage to the driver's vehicle from collision and other perils. The market for personal automobile insurance is generally divided into three product segments: non-standard, standard and preferred insurance. The real estate and corporate segment consists of activities related to the disposition of real estate held for sale, interest expense associated with debt, and other general corporate overhead expenses. It owns and operates three insurance company subsidiaries: First Acceptance Insurance Company, Inc., First Acceptance Insurance Company of Georgia, Inc. and First Acceptance Insurance Company of Tennessee, Inc. The company was founded in April 1996 and is headquartered in Nashville, TN.