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Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Markel Corporation is a holding company for insurance, reinsurance, and investment operations around the world. Headquartered in Richmond, Virginia and founded in 1930, Markel reports its ongoing underwriting operations in three segments, and products originate from three insurance divisions and one reinsurance division. Through Markel Ventures, they allocate capital to invest in opportunities outside of insurance.
Tokio Marine HCC is an international specialty insurance group with offices across the United States, the United Kingdom, Spain, and Ireland. The company is based in Houston, Texas, U.S.A. but has major offices in Atlanta, Barcelona, Boston, Chicago, Dallas, Detroit, Farmington (CT), Frederick (MD), Ireland, Leicester (UK), London, Los Angeles, Madrid, Mount Kisco (NY), and New York City.
Farmers Insurance Group is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers is the trade name for three reciprocal insurers, Farmers, Fire, and Truck owned by their policyholders. The non-claims activities of Farmers are managed by an attorney in fact, Farmers Group Inc, which is a wholly owned subsidiary of Zurich Insurance Group.
CNA Financial Corporation is a financial corporation based in Chicago, Illinois, United States. Its principal subsidiary, Continental Casualty Company (CCC), was founded in 1897. CNA, the current parent company, was incorporated in 1967.
The Professional Liability Underwriting Society (PLUS) is a non-profit organization with membership open to persons interested in the promotion and development of the professional liability industry.
In the United States, Certified Insurance Counselor (CIC) is an insurance agent professional certification designation. The CIC certification program was started by the National Alliance for Insurance Education & Research in Austin, Texas in 1969. Some CIC courses can be used to fulfill state continuing education requirements for licensing as an insurance agent.
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice-, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
Mercury General Corporation is a multiple-line insurance organization offering personal automobile, homeowners, renters and business insurance. Founded in 1961 and headquartered in Los Angeles, Mercury has assets in excess of $4 billion, employs 4,500 people and has more than 8,000 independent agents in 11 states.
In insurance policies, an additional insured is a person or organization who enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. The term generally applies within liability insurance and property insurance, but is an element of other policies as well. Most often it applies where the original named insured needs to provide insurance coverage to additional parties so that they enjoy protection from a new risk that arises out of the original named insured's conduct or operations. An additional insured often gains this status by means of an endorsement added to the policy which either identifies the additional party by name or by a general description contained in a "blanket additional insured endorsement".
Berkshire Hathaway GUARD Insurance Companies currently insure over 250,000 businesses in the US.
Vehicle insurance in the United States is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage. Most states require a motor vehicle owner to carry some minimum level of liability insurance. States that do not require the vehicle owner to carry car insurance include Virginia, where an uninsured motor vehicle fee may be paid to the state, New Hampshire, and Mississippi, which offers vehicle owners the option to post cash bonds. The privileges and immunities clause of Article IV of the U.S. Constitution protects the rights of citizens in each respective state when traveling to another. A motor vehicle owner typically pays insurers a monthly fee, often called an insurance premium. The insurance premium a motor vehicle owner pays is usually determined by a variety of factors including the type of covered vehicle, marital status, credit score, whether the driver rents or owns a home, the age and gender of any covered drivers, their driving history, and the location where the vehicle is primarily driven and stored. Most insurance companies will increase insurance premium rates based on these factors, and less frequently, offer discounts.
Argo Group International Holdings, Ltd, or Argo Group, is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market. Argo Group and its insurance subsidiaries are rated "A−" by Standard & Poor's. Argo's insurance subsidiaries are rated "A−" by AM Best. In 2017, the San Antonio Express News wrote that "The company has made more than $1 billion in profit over the last decade as a mid-sized player in a niche field insuring complex or hard-to-price risks other insurers won’t touch." Argo was listed on the New York Stock Exchange in May 2018.
Grange Mutual Casualty Company, commonly known as Grange Insurance, is an American insurance company based in Columbus, Ohio. Grange market's network is about 3,600 independent agents to offer home, auto, life, and business insurance protection to policyholders. The company, formed in 1935, now operates in 13 states. These states include Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin.
State National Companies, Inc., is a specialty provider of property and casualty insurance operating in two niche markets, Program Services and Lender Services. The company is licensed to do business in all 50 states and D.C.
Connect is an insurance company located in De Pere, Wisconsin. Connect provides auto, home, condo, renters, umbrella and specialty products. Insurance is underwritten by American Family Connect Property and Casualty Insurance Company and American Family Connect Insurance Company, each a wholly owned subsidiary of American Family Insurance Mutual Holding Company. They also partner with various specialty insurance providers to offer coverage for items such as watercraft, ATVs, recreational vehicles and motorcycles. Connect is an affinity marketer, relying almost entirely on strategic partnerships to reach customers. Partners include Costco Wholesale, and Ameriprise Financial. In 2018, Ameriprise Auto & Home Insurance generated more than $1.1 billion in annual written premium.
Victor Canada is a Canadian managing general agent headquartered in Ottawa, Ontario, Canada with additional offices in Mississauga and Edmonton.
References
- ↑ BBB (May 25, 2010). "Western World Insurance Group". BBB Business Review. Retrieved May 15, 2012.
- ↑ Gerace, Joseph (2011). "Western World Insurance". Wyckoff-Franklin Lakes Patch. Retrieved May 15, 2012.
- ↑ Leone, Linda (2010). "AAMGA Conference: Western World Insurance Group" (Press release). Retrieved May 15, 2012.
- ↑ Bloomberg Snapshot (May 15, 2012). "Company Overview of Western World Insurance Group, Inc". Bloomberg BusinessWeek. Retrieved May 15, 2012.
- ↑ Bloomberg Snapshot (May 15, 2012). "Company Overview of Western World Insurance Group, Inc". Bloomberg BusinessWeek. Retrieved May 15, 2012.
- ↑ O'Donnell, Anthony (September 6, 2011). "Western World Insurance Group's Integrated Platform Drives Growth, New Opportunity". Insurance & Technology. Retrieved May 15, 2012.
- ↑ O'Donnell, Anthony (September 6, 2011). "Western World Insurance Group's Integrated Platform Drives Growth, New Opportunity". Insurance & Technology. Retrieved May 15, 2012.
- ↑ "O'Connor, Amy (July 29, 2011). "Western World Insurance Group Introduces Mobile Integrated Platform". Insurance Journal. Retrieved May 15, 2012.
- ↑ "Western World Affiliations". July 29, 2011. Retrieved May 15, 2012.