Readers question : “What is the significance of an Insurance Company demutualizing in Chattanooga Tennessee?”

Chattanooga, is the fourth largest city in Tennessee. The city lies at the transtion between the ridge and valley portion of the Appalachian Mountains and the Cumberland Plateau and is surrounded by ridges. The city is known for the 1941 big-band swing song “Chattanooga Choo Choo” by Glenn Miller.

Susan, thank you for asking:This means that the company is ceasing to be a mutual company (owned by the policyholders) and is becoming a corporation. For a customer of that company it means that you will no longer recieve dividends if you have been recieving them and that your rates will likely go down slightly. In most cases the company will send you some sort of correspondence throughout the process… which could take years. But if you need an answer at this time, please contact them immediately.