Marathon Financial Insurance Company Inc. RRG, Delaware(DE): A Risky Business?

If you are looking for a vehicle service contract (VSC) that covers the cost of repairs after the original manufacturer’s warranty expires, you might have come across Marathon Financial Insurance Company, Inc. RRG (MFIC).

An image to Illustrate: Marathon Financial Insurance Company, Inc. RRG
Marathon Financial Insurance Company, Inc. RRG was a risk retention group that insured vehicle service contracts sold by Automotive Professionals, Inc. However this company had a risky business model that led to its downfall. Read this article to learn more about its history, legal battles, and dissolution/PHOTO COURTESY: Freepik

Marathon Financial Insurance Company Inc. RRG is a risk retention group that insures VSCs sold by Automotive Professionals, Inc. (API).

But before you sign up for their services, here are some facts you should know about this company and its history.

Marathon Financial Insurance Company Inc. reviews

MFIC was founded in 2001 and incorporated in South Carolina.

It domesticated to Delaware in 2010 and operated as a risk retention group, which means that it was owned by its policyholders and exempt from some state regulations.

MFIC-insured VSCs sold by API were also sold at Ford dealerships.

MFIC competed with Ford’s VSCs, which were insured by the American Road Insurance Company (ARIC).

However, MFIC’s business model was not very successful.

In 2004, Ford changed its policy and would no longer finance purchases of VSCs unless the insurer had a stability rating of A- or better.

MFIC did not have such a rating, and its sales declined.

In 2009, MFIC sued Ford for tortious interference with contract and prospective business relations, alleging that Ford’s policy was unjustified and harmed MFIC’s business.

The lawsuit was dismissed by the district court in 2010 and affirmed by the appeals court in 2009.

In 2014, the Delaware Department of Insurance examined MFIC’s financial condition and found several significant findings, such as:

  • non-compliance with trust requirements
  • inadequate loss reserves
  • negative surplus.

The examination report recommended that MFIC should cease writing new business, increase its capital and surplus, and submit a corrective action plan.

In 2019, MFIC dissolved and withdrew as a risk retention group.

The Delaware Department of Insurance issued a dissolution report that stated that MFIC had no assets, liabilities, or policyholders as of December 31, 2018.

The report also stated that MFIC had no pending claims or litigation and that all of its VSCs had expired or been cancelled.

Marathon Financial Insurance Company Inc. Rrg phone number

If you are wondering how to contact MFIC, you might be out of luck.

The company is no longer in business and has no active phone number or website.

The last known phone number of MFIC was 800-205-8988, but it is no longer in service.

The last known website of MFIC was www.marathonfinancial.com, but it is no longer accessible.

The only way to reach MFIC might be through its registered office in Delaware, which is located at:

1105 North Market Street, Suite 1300, Wilmington, Delaware 19801

However, this address might not be current or accurate, as MFIC has not filed any annual reports or other documents with the Delaware Secretary of State since 2017.

Marathon Financial Insurance Company Inc. rrg address

As mentioned above, the registered office of MFIC in Delaware might not be a reliable source of information or communication.

The administrative office of MFIC was located at:

1710 Corporate Crossing, Suite 1, O’Fallon, Illinois 62269

However, this address might also be outdated or invalid, as MFIC has not filed any annual reports or other documents with the Illinois Secretary of State since 2018.

According to some online sources, MFIC also had a mailing address of PO BOX 961, O’FALLON, IL 62269.

However, this address might not be functional or relevant, as MFIC has ceased operations and dissolved.

Marathon financial advisors

If you are looking for financial advice or planning, you might want to avoid MFIC and its affiliates.

MFIC was not a financial advisor, but an insurance company that insured VSCs.

MFIC had no relation to Marathon Financial Advisors, Inc., a financial advisory firm located in East Syracuse, New York.

Marathon Financial Advisors, Inc. is a separate and independent entity that offers services such as investment management, employee benefits, and insurance matters.

However, MFIC did have a connection to Marathon Financial Group, a financial advisory team affiliated with NewEdge Advisors, a larger firm that supports independent advisor teams across the country.

Marathon Financial Group specializes in providing financial planning for physicians and other successful individuals.

Marathon Financial Group is based in Boston, Massachusetts, and has offices at the official marathon finish line.

It claims to embody the spirit, passion, and drive required to prepare its clients for their financial victories.

Conclusion

In conclusion, MFIC was a risk retention group that insured VSCs sold by API.

It faced legal and financial challenges that led to its dissolution and withdrawal in 2019.

MFIC had no assets, liabilities, or policyholders as of 2018.

MFIC had no active phone number or website, and its addresses might not be current or accurate.

I hope you enjoyed reading this article and learned something new about MFIC and its history.

If you have any questions or comments, please feel free to contact me.

Thank you for your time and attention.

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