North American Insurance Company
North American Insurance Company
2721 North Central Avenue
Phoenix AZ 85004
The North American Insurance Company is a health and life insurance provider specializing in Medicare supplement insurance, credit life and credit disability products. The company provides premiums and claims for more than 60,000 insurance holders all over the United States. The company’s headquarters is in Madison, Wisconsin, while the contact office is located in Phoenix, Arizona.
Formerly known as Reliable Life and Casualty Company, the company applied for reinstatement of its certificate of authority in 1987. The following year, it was released and changed its name from North American Group, Ltd. to what it is commonly known today: the North American Insurance Company. On 1990, the company was purchased by Encore Financial, Inc. Encore, on the other hand, was acquired by Oxford Life Insurance Company in 1997. Oxford Life is a wholly-owned subsidiary of Amerco, which is a publically traded financial holding network. Encore Financial was merged with North American Insurance in 2006.
Now a member of the Oxford Life Family of Companies, Northern American is among the leading third party administrators of Medicare supplement insurance. It provides quality customer service that intends to uphold customer retention by guaranteeing the best level of service a client could have.
The principal product of the company is the Medicare supplement insurance, designed to cover specific costs not covered by original Medicare and to help lessen clients’ out-of-pocket expenses. Medicare supplement insurance policies can assist in paying certain expenses not covered by Medicare such as Part A deductible and copayments, skilled nursing facility care, extended hospital care, physician’s services, hospital outpatient services and supplies, ambulance services, physical and speech therapy, and emergency health care received outside the United States.
The company’s senior management include Mark Haydukovich as President and Chief Executive Officer, Don Smith as Vice President and Chief Marketing Officer, Eric Johansson as Vice President and Chief Operations Officer, Charles Miller as Vice president and Chief Financial Officer, and Jan Riedell as Director of Compliance and Secretary. Northern America has several regional offices for its western, northern and Southern Operations. The Regional Director for the western operation is Scott Overstreet; Mike Quaranta heads the northern operation, while Craig Foley leads the southern operation. Michael Frahm serves as the assistant vice president and director of marketing.
With such a strong leadership team, it comes as no surprise that their financial performance has been strong. North American is rated by A.M. Best as B+ (Good) with a stable outlook, indicating a stable financial & market trends. This financial strength rating by A.M. Best signifies Northern American’s stability, based upon the company’s balance sheet strength, operating performance and business profile. As of December 31, 2009, the company has a total asset of $14,329,952, with a capital of $1,747,800, net surplus of $7,552,849 and net life-ins of $22,022,000. For the fiscal year ending 2009, Northern American earned a national premium of $1,276,529 from life insurance and annuities as well as accident and health insurance. The company boasts a zero complaint ratio from 2008 until the end of October, 2010.