Auction Insurance Agency celebrates 70th anniversary
Image courtesy of AutoTec.
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Auction Insurance Agency, a division of AutoTec, celebrated a milestone anniversary this month.
The third-generation family business commemorated its 70 years of providing the wholesale vehicle industry with payment and title guarantee insurance, fraud protection, risk mitigation, B2B arbitration and C2C dispute resolution in an event at the grand atrium of the Barber Motorsports Museum in Birmingham, Ala.
The event highlighted the history of AIA’s involvement and leadership in the auto auction industry and included comments from Tom Adams Jr., and Richard Adams.
In 1953, Auction Insurance Agency, led by Tom Adams Sr., began providing payment and title insurance to local auto auctions in need of protection against rolled-back odometers, washed titles and other fraudulent activity.
AIA currently serves hundreds of auto auctions, automotive lenders and marketplaces across the U.S. and Canada.
