T. John Jerger Jr., president, American Traditions Insurance Co. and Modern USA Insurance Co.

T. John Jerger Jr., president, American Traditions Insurance Co. and Modern USA Insurance Co.

FINANCIAL SERVICES,  FINALIST

The years 2005 and 2006 proved devastating for the insurance industry in Florida. Many national insurance companies moved their businesses out of the state, away from hurricanes and other risks, and John Jerger could have followed suit. But he had a better idea.

Instead of fleeing to greener pastures, Jerger jumped at the chance to meet the needs of the existing market. In 2005, he founded American Traditions Insurance Co. to provide expertise in writing insurance for the state of Florida, specifically focusing on mobile homes. He went on to form his second company, Modern USA Insurance, to join ATIC two years later.

Together, ATIC and MUSA insure some 84,000 policies throughout Florida and are the fifth-largest writer in the state for mobile homes. But leading multiple companies in the insurance business has not been easy for Jerger. A key challenge for his insurance businesses is operating in Florida, where the inherent risks of location combined with poorly written laws make it more difficult to ensure financial stability. To create an environment that helps local insurance businesses thrive and steer clear of frivolous lawsuits, Jerger dedicates his time to help educate state legislatures on how to write clearer laws. In a state that has potential for numerous natural disasters each year, Jerger also knows that it’s difficult to plan for long-term growth of his companies. He has taken steps to mitigate the effects of these catastrophes on the businesses by developing a tailored reinsurance program to protect his companies through multiple disasters.

While most other Florida companies are insured for only one annual catastrophe, this program lets employees and customers know that Jerger is committed to longevity and not just short-term profit.

HOW TO REACH: American Traditions Insurance Co. and Modern USA Insurance, www.jergermga.com

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