Companies work to deliver the best of moments during the rides with comfort and safety assurance. Gainsco sponsors a racing team, the GAINSCO/Bob Stallings Racing team, which won the Grand-AM Rolex Sports Car Series twice with the No. In addition, during this time period, the A.M. Best rating of the insurance subsidiary has increased three times moving from a “Vulnerable” financial strength rating of “B-” to the current “Secure” financial strength rating of “B++” with a stable outlook. Gainsco will continue to operate as a separate company, but over time the two insurance firms will begin to combine products offered to customers, according to State Farm. Reliability. Come join us and become a champion with GAINSCO. GAINSCO was established in 1978 as a Texas corporation. Since many auto insurance companies choose, the companies work to ensure their clients’ general collective responsibilities. [7], On September 17, 2020, State Farm Insurance announced an agreement to acquire Gainsco as a wholly owned subsidiary for $400 million.[8][9]. Mr. Anderson has led the comprehensive repositioning of GAINSCO into a successful nonstandard personal automobile enterprise from a company that historically focused on commercial insurance. Their insurance subsidiary, MGA Insurance Company, Inc. is also based out of Texas. GAINSCO only has offices in eight states. This takes you to the new login screen, here you'll input your User ID and Password. We are driven to provide: GAINSCO sells our insurance policies through independent partner agents and website comparison shopping places who, like us, are driven to provide outstanding service, support, and the best price. Its insurance company subsidiary (domiciled in Texas) is MGA Insurance Company, Inc., and sponsors the No. That's because our culture encourages individuals to grow their skills as they build their careers. The automobile dealership operation, located in South Dallas, has approximately 45 employees. You'll now log on by clicking the yellow Login option at the top-right corner. That's because our culture encourages individuals to grow their skills as they build their careers. Phone. Glenn Anderson has served as President, Chief Executive Officer, and Director of GAINSCO, INC. since April 1998. Prior to joining GAINSCO, Mr. Anderson served as Executive Vice President of USF&G Corporation and President of USF&G's Commercial Insurance Group, positions held since July 1996. Policies can be canceled if a driver gets duplicate coverage. GAINSCO's insurance operations consist of about 400 employees with about 250 employees in its Dallas home office. An acquisition in the late 1990s of a Florida-based managing general agency and claims operation specializing in the non-standard personal automobile business established the cornerstone for GAINSCO's insurance marketing focus today. Methodology. Expert review. ... “GAINSCO will continue to operate as a separate company … Gainsco offers you four ways to make a payment: by phone, by mail, online or by visiting your agent in person. GAINSCO (OTC Pink No Information: GANS) is a Dallas, Texas-based holding company established in 1978 in Fort Worth, Texas by Joseph Macchia, who resigned from the enterprise in 1998 to pursue other interests. How to sign in to GAINSCOconnect . The insurer does a majority of its business in Florida but has operations in other states in the southwestern and southeastern US. GAINSCO Auto Insurance is an expansionary company, now selling its insurance policies in sixteen states through independent agents as well as directly to customers via digital channels. What is GAINSCO Insurance? Come join us and become a champion with GAINSCO. In December 2020, State Farm Mutual Automobile Insurance Company acquired GAINSCO, Inc. and its subsidiaries. State Farm will buy all of GAINSCO’s publicly traded stock for $107.38 per share. The company, through its insurance brand, GAINSCO Auto Insurance®, specializes in minimum-limits personal auto coverage and actively distributes its nonstandard personal auto products through independent retail agents in Southwest and Sunbelt states. 99 GAINSCO “Red Dragon” Daytona Prototype. GAINSCO's insurance operation was originally chartered as an underwriter of Commercial risks; operations that were discontinued and placed in a run-off in 2002. Hourly Pay posted anonymously by GAINSCO employees. [3], Beginning in 2005, a newly created GAINSCO logo mark incorporated a rising arrow in its name to inspire a progressively upward company. A free inside look at GAINSCO hourly pay trends based on 6 hourly pay wages for 4 jobs at GAINSCO. What does a Marketing and Sales Support Coordinator do at GAINSCO? Salary information comes from 11 data points collected directly from employees, users, and past and present job … [10] GAINSCO is a publicly-traded property & casualty insurance company headquartered in Dallas, Texas. GAINSCO is a publicly-traded property & casualty insurance company headquartered in Dallas, Texas. How much does GAINSCO in the United States pay? [citation needed]. The company currently markets its nonstandard personal automobile products under the brand name GAINSCO Auto Insurance in the six states of Florida, Georgia, South Carolina, Arizona, Texas, and New Mexico. Previously, Mr. Anderson held vice-presidential positions in commercial insurance with Fireman's Fund Insurance. If you prefer to shop online, get a no obligation quote now from GAINSCO. The average salary for Gainsco Inc. employees is $63,030 per year. However, in time, the two companies will start the process of combining the products they offer consumers, said the statement from State Farm. GAINSCO Insurance was founded in 1978 in Dallas, Texas. Visit PayScale to research Gainsco Inc. salaries, bonuses, reviews, benefits, and more! The Ramsey Show 10:00 a.m. - … Bloomington-based State Farm is entering into an agreement with GAINSCO, Inc. to acquire the Texas-based company for approximately $400 million in cash. The Company in early 2011 approved the voluntary suspension of its duty to file reports with the SEC and the voluntary deregistration of its common stock. Call Gainsco at 1-866-GAINSCO to make a payment over the phone by debit card or credit card. What does a MARKETING CONTENT MANAGER do? A native of Norwich, Connecticut, he earned a bachelor's degree in Economics at Stanford University. The company was eligible to suspend its reporting obligations and deregister its common stock because there were fewer than 300 holders of record of the company's common stock. Quotes were based on a sample driver from Texas, the state where GAINSCO primarily does business. State Farm’s bet on high-risk drivers is far smaller than Allstate’s. Send your check or money order to the address shown on your billing statement. You can purchase policies in other states, but you will only be able to work with your agent over the phone. Additionally, he has earned the Chartered Property and Casualty Underwriter (CPCU) designation. GAINSCO Sites: Welcome to GAINSCOconnect The online portal for GAINSCO partner agents. [citation needed], In 2019, GAINSCO has chosen One Inc., for modernisation of the outbound payment capacities of the company. The company also has an office in Miami, Florida, where they provide coverage … This can be frustrating for those who prefer to develop a strong relationship with their insurance agent, or … 99 Red Dragon™ McLaren 650s GT3 GAINSCO/Bob Stallings™ racecar. Inspired by our championship-winning legacy in the professional sports car racing community, our customers and agent partners experience this championship performance in the way we service their needs. Biographical Information – Glenn Anderson, Learn how and when to remove this template message, "Stallings: "From a Business Side It Made Sense To Go into GT" - Sportscar365", "Welcome to Bob Stallings Hyundai - Your Dallas Hyundai Dealership", "GAINSCO AUTO INSURANCE Trademark of GAINSCO, Inc. - Registration Number 3186968 - Serial Number 78809663 :: Justia Trademarks", "ARE YOU DRIVEN? GAINSCO will continue to operate as a separate company and brand with continued focus on its current objectives. GAINSCO Insurance was founded in 1978 and conducts business operations today through MGA Insurance. [6] The company's Board of Directors and named Executive Officers own a significant majority of the outstanding common stock. It consolidated its headquarters in Dallas, Texas in 2005. Mr. Anderson was the architect in building USF&G's standard commercial middle-market business; its Specialty Segments (including Financial Institutions, Municipalities, Professional Liability, Technology, Directors and Officers, Marine, and International); and it's Excess and Surplus Property and Casualty Lines of business. Its products are sold through a network of independent agencies. Over time, the parties expect to provide State Farm agents the opportunity to distribute GAINSCO products in addition to State Farm products and services. Glenn Anderson, CEO, and President has enjoyed significant success over his thirty-year career in the insurance industry. Glenn Anderson has served as President, Chief Executive Officer, and Director of GAINSCO, INC. since April 1998. Gainsco sells insurance through independent partner agents in the District of Columbia and 44 states that include Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Texas, and Virginia. This commercial insurance company was sold in 2007. [citation needed] The Company marketed its commercial insurance through managing general agents, using “GAINSCO” and the block super-scribed letters “GA” as its primary logo identifiers. Officers of GAINSCO own a majority of the company. Our insurance operations are conducted through MGA Insurance Company, Inc. GAINSCO, Inc. was established in 1978 and has a regional office in Miami, Florida. Established in 1978, Gainsco specializes in nonstandard auto insurance for high-risk drivers and minimum-limits personal auto insurance. This company specializes in policies that meet state requirements in 11 states, along with help for filing SR-22 forms to prove your insurance coverage to the state. This decision resulted in expense savings and reduced reporting burdens. The deal will have State Farm purchasing all of the Gainsco insurance company’s stock. In addition, he managed USF&G's commercial field operations. These were derived from the abbreviated version of the name of the company's primary insurance subsidiary at that time, General Agents Insurance Company of America, Inc. Hours of operation are 8 a.m. – 8 p.m. Central Time. State Farm Mutual Automobile Insurance Company, America’s largest property and casualty insurance provider, and GAINSCO, Inc. announced Sept. 17, 2020, that they have entered into an agreement pursuant to which State Farm will acquire GAINSCO for approximately $400 million in cash. Call us at 1866.GAINSCO to find an agent near you. Gainsco vs. Country: What You Need to Know. Experience championship performance from a championship team at GAINSCO Auto Insurance®. The entry into the automobile dealership business in late 2013 provided another avenue for expansion opportunities. Gainsco works best if you’re looking for a barebones policy and can’t get a policy with other traditional insurers. He was also Assistant to the Chairman, Mr. Jack Byrne. In the meantime, Gainsco will continue to operate under its own name and will continue to sell through independent agents. A former Executive Vice President and Divisional President with USF&G, Mr. Anderson joined GAINSCO in 1998. We have a network of over 9000 trusted insurance agents across 9 states who can guide you through your car insurance purchase. Mail. We believe in delivering a championship performance in every aspect of our business. Mr. Anderson joined Fireman's Fund in 1974. Mr. Anderson joined USF&G in 1992 as Senior Vice President of Commercial Lines. Trademark of GAINSCO Service Corp. - Registration Number 3139665 - Serial Number 76630000 :: Justia Trademarks", "GAINSCO Selects One Inc for Digital Claims Payments", "In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO", "State Farm to acquire Dallas insurance company Gainsco for $400 million", "Glenn W. Anderson of Gainsco Inc Executive Profile", https://en.wikipedia.org/w/index.php?title=GAINSCO&oldid=1016554506, Companies traded over-the-counter in the United States, Financial services companies established in 1978, Articles with a promotional tone from May 2018, Articles with unsourced statements from January 2020, Articles with unsourced statements from August 2016, Creative Commons Attribution-ShareAlike License, This page was last edited on 7 April 2021, at 20:01. The GAINSCO leadership team is deep in industry talent and expertise. GAINSCO Auto Insurance provides reliable auto insurance services for everyone in need. [citation needed] The Company completed a capital restructuring in 2005 which set the base for developing its business model. What information do I need to file a claim with Gainsco insurance? “GAINSCO operates in 12 states (Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, Ohio, and Alabama) with plans to expand to other states in future years,” Pilcic said in an email. GAINSCO Auto Insurance® is a Dallas, Texas-based property and casualty insurance company concentrating on the non-standard personal auto insurance market, specializing in minimum-limits personal auto insurance. The acquired insurer will continue its operation as a separate business. GAINSCO will continue to operate as a separate company and brand with continued focus on its current objectives. GAINSCO’s insurance policies underwritten by MGA Insurance Company, Inc. Insurance policies that are flexible and easy to customize to your needs, A highly competitive price designed to save you money, Superior customer support and claims handling. Gainsco is not available in every state, but in states they service, they … Established in 1978 as a Texas corporation, Gainsco is a property and casualty insurance holding company, concentrating their efforts on the non-standard personal automobile market, specializing in minimum-limits personal auto insurance. Total shareholders’ equity (on a GAAP basis) increased from $57 million to $96 million over the same period. The average GAINSCO salary ranges from approximately $38,667 per year for Customer Service Representative to $92,000 per year for Senior Compliance Officer. Average GAINSCO Claims Representative yearly pay in the United States is approximately $60,143, which is 27% above the national average. It was at this time that GAINSCO's logo mark was first placed on a racecar owned by our Chairman of the Board, Robert Stallings. It’s the first acquisition of an insurance company by State Farm in its 98-year history. GAINSCO's cancellation policy allows the insured to cancel for a prorated refund. [1][2] In addition, the Company owns and operates a franchised Hyundai automobile dealership in Dallas, Texas. The driver was a 30-year-old single man who drives a 2015 Honda Civic with minimum coverage. A separate Miami office has approximately 80 employees; the balance of the employee population is field-based across the multiple states of operation. GAINSCO spokespeople said the company would continue to operate as … GAINSCO's work environment rewards engaged individuals who have a desire to contribute and succeed. Some states may also require that you purchase UM/UIM coverage, PIP, and/or Medical Payments. GAINSCO specializes in providing drivers with the minimum amount of coverage they need, according to state law, in order to be able to drive legally. Gainsco is a Texas-based auto insurance company offering comprehensive coverage for U.S. drivers. The company's insurance business has grown from gross premiums written level of $112 million in 2005 to $227 million in 2015. Robert Stallings, GAINSCO's Chairman, has a successful track record of building and managing financial services companies and is actively involved in strategic leadership and organizational management. According to the release, under the definitive merger agreement, upon closing State Farm Mutual will acquire 100% of the stock in GAINSCO, Inc., the … This usually includes Liability Coverage (both Property Damage and Bodily Injury) at the very least. Registered marks include GAINSCO Auto Insurance®[4] and Are You Driven®.[5]. Gainsco sells policies through comparison websites and independent agents in 11 states: Alabama, Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Tennessee, Texas, Utah … GAINSCO's work environment rewards engaged individuals who have a desire to contribute and succeed. 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