Property and Casualty insurers are famous for writing covering properties such as real estate, cards, dwelling and others. An insurance group is nothing but a collection of insurance companies sharing common ownership. It is mainly divided amongst the parent company and its various subsidiaries in the same industry.
Large numbers of subsidiaries are best utilize to cover up specific types of risks. For instance: an insurer may use workers compensation policies through one subsidiary and auto business policies via another.
1. State Farm Insurance Group: No. -1 in Insurance Companies in USA
In 1922, State Farm Insurance Company was formed by G.J. Mecherle. He was influenced by doing the best to the customers with utmost fairness policies. The company focuses mainly on personal lines insurance while covering the insurance for small businesses too.
Captive agents keep the wheel moving by selling state farm products.
Financial services unit provide Loans and banking services.
2. Berkshire Hathaway Group (also owns Geico)
Berkshire Hathaway is control under the leadership of Warren Buffet as a chairman and chief executive officer and it is headquarter in Omaha, Nebraska. It owns Geico and various other specialty insurers including Duracell, Daily Queen, National Indemnity, MedPro Group, Berkshire Hathaway Insurance and more. It offers government bonds to finance public projects as sewer systems, roads, schools and hospitals.
3.Liberty Mutual Insurance Group (also owns Safeco)
Liberty Mutual Insurance Group has been serving the customers over 100 years by providing commercial and personal insurance coverages. It has wide range of insurers as Safeco, Golden Eagle, Peerless Insurance, Ironshore, Ohio Casualty, etc. these are own by policyholders.
One of the renowned properties and casualty Insurance Companies in USA. Keep in mind that progress happen when people feel secure building its businesses by supporting customers diligently.
4. Progressive Insurance Group
The Progressive Insurance Group is famous for its strong reputation of finding new and affordable insurance solutions. It started the operations in 1937 by introducing reduced rates for low-risk drivers and at present it offers wide range of insurance experience by letting customers make comparison on the web.
The insurance solutions are provided by the website and independent agents. Also, this company is rank 4th in the best Insurance Companies in USA. Some of its products are commercial auto insurance, homeowners, auto, boat, etc.
5. Allstate Insurance Group (also owns Esurance)
Allstate Insurance was founded by Robert E.Wood in 1931, to bring potent auto insurance solutions. In 1938, Allstate introduced Merit Rating Plan as one of the most sophisticated systems to provide better rates to safe drivers. In 1942, company trained women to become Allstate insurance agents during WWII.
At present, company is offering personal lines insurance also small coverage’s for small end businesses. Captive agents are responsible for selling insurance solutions, but some independent agents too sale the insurance solutions. It also owns Esurance in its kitty as an online seller of personal insurance. Allstate Insurance Group is on number 5, in best property and casualty Insurance Companies in USA.
Though, there are various other properties and casualties Insurance Companies in USA too, but these are the best amongst the rest and their ratings don’t usually change every year. These insurance providers have been showing exponential growth and sustaining the market like a robust key player.
Content Credit: Gurpreet Dhariwal