PROVIDENT AMERICAN INSURANCE COMPANY
PROVIDENT AMERICAN INSURANCE COMPANY. The Provident American Insurance Company, originally known as Empire Life Insurance Company, with headquarters in Dallas, is licensed to sell life, accident, and health insurance in Arizona, Colorado, Louisiana, Montana, Nevada, New Mexico, North Dakota, Oklahoma, Texas, and Utah, and does business primarily in individual accident and health coverage, including major medical, Medicare-supplement, and basic hospital and medical-expense insurance. The company was founded and incorporated in Paris, Texas, in 1939 as the Empire Life Insurance Company by B. I. Jordan, Sr., B. I. Jordan, Jr., J. B. Griffith, and D. B. Fisher. Authorized as a domestic stock life insurance company, it sold stock and conducted business in life and accident insurance. The name was changed to Provident American Insurance in 1963, at which time the company headquarters was moved to Dallas. A group of investors led by David S. Abdnor and G. H. Kelsoe, Jr., purchased the outstanding stock in 1964, but later sold it to a Houston holding company formerly known as Lone Star Ford, the Sonic Financial Corporation. In 1982, after Sonic acquired an interest in American Estate Life Insurance Company of Arizona, that company purchased the rest of shares in Provident. The two companies merged in 1983 as Provident American Insurance Company. By 1993, the firm had assets of more than $13 million and roughly 400 soliciting agents, but faced significant operating losses and continuing lawsuits and complaints. O. Bruton Smith, a member of the company's board of directors, held a controlling interest of more than 90 percent of the stock.
Image Use Disclaimer
All copyrighted materials included within the Handbook of Texas Online are in accordance with Title 17 U.S.C. Section 107 related to Copyright and “Fair Use” for Non-Profit educational institutions, which permits the Texas State Historical Association (TSHA), to utilize copyrighted materials to further scholarship, education, and inform the public. The TSHA makes every effort to conform to the principles of fair use and to comply with copyright law.
For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml
If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.Handbook of Texas Online, Diane Galvan, "Provident American Insurance Company," accessed February 26, 2017, http://www.tshaonline.org/handbook/online/articles/djpvn.
Uploaded on June 15, 2010. Published by the Texas State Historical Association.