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We Have a Rich History
BCS Insurance Company (BCSI) is a for-profit, multiple-line property and casualty insurance company with roots that date back more than 50 years.
A board consisting of Blue Cross and Blue Shield Plan officers as well as outside strategic investors governs our parent company, BCSI Holdings, Inc.
To understand the history of BCSI, one must understand our relationship as a subsidiary to BCS Financial Corporation (BCSF), a for-profit, multiple-line insurance services holding company, which has been serving Blue Cross and Blue Shield Plans for more than 50 years. BCSF evolved from two predecessor organizations, Health Service, Incorporated (HSI) and Medical Indemnity of America, Incorporated (MIA) formed in 1949 and 1950, respectively. Although established as separate entities, HSI/MIA operated as a single company to provide uniform programs as a national enrollment agency to support Blue Cross and Blue Shield Plans' efforts. In 1981, BCS received authority to write life and supplement the Plans' ability to write comprehensive health insurance programs for their clients. In 1985, stock was distributed to Blue Cross and Blue Shield Plans and to the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield Plans.
BCSF manages BCS Brokerage, which offers a range of financial services.
BCSF also owns BCS Life Insurance Company (BCSL), managed by BCS Insurance, which offers life and health insurance products to Blue Cross and Blue Shield Plans nationwide, and recently began offering similar coverage in select commercial markets. BCSF is governed by a board consisting of Blue Cross and Blue Shield Plans. BCSL is licensed in all 50 states and rated in the "A" (Excellent) category by the A.M. Best Company.
BCSF reorganized in 1998, and recapitalized BCS Insurance Company to allow us to better service Blue Cross and Blue Shield Plans and non-Plan business.
The Commercial Division was established in January 2000 to underwrite business for both BCS Life Insurance Company and BCS Insurance Company for insurance associated with employers and affinity (voluntary purchase) groups. Click here to visit our Commercial Division Web site.
Mission & Strategies
BCSI has a two-fold mission: to develop and deliver products and programs to fulfill insurance needs of the Blue Cross and Blue Shield Plans; and to expand into selected outside commercial markets, while enhancing shareholder value.
BCSI's major strategies propel the company forward as we meet the goals of our customers and grow our capital base. Our major strategies are to:
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