Market Overview

Atlas Financial Holdings Launches On-demand Rideshare Insurance Product in Illinois

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Atlas Financial Holdings, Inc. (NASDAQ:AFH) ("Atlas" or the "Company")
is pleased to confirm the approval of its mobile phone driven
usage-based commercial automobile product from both an insurance
regulatory and technology platform perspective. This straightforward
product is the first of its kind for part time Transportation Network
(TNC) or "ride share" drivers and has already been downloaded by
hundreds of potential insureds.

This unique product, which is designed specifically for individuals
driving on a part-time basis for TNCs, is being introduced as a pilot
program in Illinois under the brand optOnTM. The easy-to-use
mobile app provides short-term, primary, commercial automobile insurance
coverage for rideshare drivers across all rideshare driving periods,
with premium priced per mile. The optOn mobile application, which
supports coverage and pricing as well as claim detection and reporting,
is now available on Apple App Store and Google Play Store. As previously
announced, the Company will be initiating a limited direct digital
marketing strategy during the fourth quarter 2018 and is also exploring
other potential strategic partnerships in connection with this new
product. Beginning this week, optOn will be featured by key industry
resources including SherpaShare (www.sherpashare.com)
and The Rideshare Guy (www.therideshareguy.com).

The Company conducted extensive research of this Usage Based Insurance
(UBI) digital product during the past few years as the TNC landscape
developed. Atlas focused on ensuring that regulatory and consumer
priorities were addressed during the development and believes that it
has created the first UBI product tailored to part-time TNC drivers.
Atlas' optOn mobile product is a straightforward solution that addresses
insurance gaps that may exist, as personal auto insurance policies might
not cover drivers or their vehicles during rideshare trips. It leverages
the power of fintech with the niche specific expertise and
infrastructure at Atlas.

Management Comments

Scott D. Wollney, Chief Executive Officer, stated, "We understand that
rideshare drivers are faced with unique challenges in the freelance
economy. The optOn mobile-based platform allows drivers the flexibility
to choose the policy that works best for their budget and risk
tolerance. In addition to engaging and supporting customers through a
proprietary mobile platform, our customer-centric claims team with
decades of experience will be ready to respond when claims occur. Early
downloads of the app are consistent with our expectations and we look
forward to assessing the impact of our initial digital marketing
campaigns in coming weeks to help project potential future scale."

Atlas' optOn product Receives Regulatory Approval from the Illinois
Department of Insurance

Mr. Wollney noted the constructive role played by the Illinois
Department of Insurance in bringing this new product to market.
"Consumers benefit from competition and choices," said Jennifer Hammer,
Director of the Illinois Department of Insurance. "We are committed to
embracing efficiency and innovation to educate and protect insurance
consumers while encouraging a vital and robust insurance market. The
newly-created Division of Innovation & Market Analysis reflects the
Department's commitment to being an effective steward of these
principles."

Atlas' optOn product provides the flexible protection that rideshare
drivers deserve. Key features include:

  • Three different levels of coverage from which drivers can choose each
    time they initiate a policy;
  • Micro policies that last up to 4 hours with no monthly fees or
    subscriptions;
  • Coverage for all periods of rideshare driving; and
  • Guidance on what to do after an accident and tools to report a claim
    from within the mobile app.

If you would like more information about this topic, visit www.getopton.com.

About Atlas

The primary business of Atlas is commercial automobile insurance in the
United States, with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs,
non-emergency para-transit, limousine/livery (including certain
transportation network company drivers) and business auto. The business
of Atlas is carried on through its subsidiaries American Country
Insurance Company, American Service Insurance Company, Inc., Gateway
Insurance Company, Global Liberty Insurance Company of New York, Anchor
Group Management, Inc., Plainview Premium Finance Company, Inc.,
Plainview Premium Finance Company of California, Inc., UBI holdings
Inc., optOn Digital IP, and optOn Insurance Agency Inc. Atlas' insurance
subsidiaries have decades of experience with a commitment to always
being an industry leader in these specialized areas of insurance.

For more information about Atlas, please visit www.atlas-fin.com.

Forward-Looking Statements

This release includes forward-looking statements regarding Atlas and its
insurance subsidiaries and businesses. Such statements are based on the
current expectations of the management of each entity. The words
"anticipate", "expect", "believe", "may", "should", "estimate",
"project", "outlook", "forecast" or similar words are used to identify
such forward looking information. The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the Companies, including risks regarding the
insurance industry, economic factors and the equity markets generally
and the risk factors discussed in the "Risk Factors" section of the
Company's 2017 Annual Report on Form 10-K. No forward looking statement
can be guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Atlas and its subsidiaries undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result of
new information, future events, or otherwise.

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