Zurich Insurance

Zurich Financial Services Group specializes in a wide range of risk management products for both businesses and individuals, but specializing in corporate general liability and casualty insurance. In 2008 it was reported that Zurich in North America was the second largest underwriter of commercial general liability on a global level as well as being the fourth largest property casualty underwriter for corporate and middle market sectors. However, Zurich insurance also has subsidiaries that serve the private sector with products such as property, health and automobile insurance. Because of such an extensive list of insurance based financial products, Zurich insurance can mitigate risk from the largest global corporations to the smallest individual policy.

Global Presence
While there are offices in North America, Zurich is a global network of subsidiaries with its headquarters in Zurich, Switzerland. Zurich customers can be found in 180 countries around the world and are serviced by more than 60,000 employees across the globe. Zurich NA (North America) alone has at least 9,500 employees notwithstanding employees from subsidiaries. Zurich is actually divided into three main groups which would include General Insurance, Global Life and the Farmers Group. While the General Insurance and Global Life Groups cater to corporate level risk management, Farmers Group largely deals with underwriting individual policies for the private sector.

Corporate Products
Zurich Insurance offers an extensive list of corporate products which includes, but not limited to, Accident and Health, Environmental, Excess/Umbrella, Foreign Casualty, General Liability, Healthcare, Machinery Breakdown, Political Risk, Professional Liability, Special Casualty, Surety, Workers’ Compensation and ZIP. Of those products, ZIP (Zurich Integrated Products) is quite interesting in that it was established for middle risk dealing with corporations with revenues ranging from $5 million to $25 million annually. The core package includes auto, property and general liability but other products can be added as needed. ZIP is marketed as being a “one stop coverage” that can grow as the mid level business grows. Other corporate insurance products include Hull and Liabilities, Boiler and Machinery and even Captives which is a financial product offered by Zurich to help corporations learn to underwrite their own policies by setting up in-house insurance.

Products for Individuals
Although Zurich Insurance is generally equated with corporate level insurance based financial products, Zurich does service individuals through their subsidiaries, such as those under the Farmers Group. For instance, Farmers has lines of insurance products such as Property and Casualty that provides homeowners insurance, automobile insurance and life insurance in the United States. Farmers Group is headquartered in Los Angeles and serves more than ten million households in 41 of 50 states. The Farmers Group of Companies includes Farmers Group, Inc, Farmers New World Life Insurance Company, Farmers Financial Solutions LLC, Foremost Insurance Company(mobile homes, motor homes, travel trailers, specialty dwellings), Bristol West Insurance Company (private automobile insurance to Florida residents) and 21st Century. The newest acquisitions are Bristol West acquired in 2007 and 21st Century in 2009.

Whether you are looking for insurance on a corporate level or private insurance for your household needs, there is a product at Zurich that fits your needs. The underwrite everything from Healthcare Medical Malpractice to Automobile Insurance. Whatever type of insurance product a person or corporation could want, Zurich or one of its subsidiaries is able to offer those products. You may not immediately recognize the insurance underwriter you are dealing with as one of Zurich’s family of insurance companies, but as they are one of the largest global insurance groups, chances are you will, in the course of your lifetime carry one or more of their products. With a worldwide presence and a wide array of products, Zurich Insurance is a well respected name.

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