Zurich insurance

Zurich Insurance (Zurich)

Zurich was founded in 1872 as part of the Schweiz Marine Insurance Company as a marine insurance company. In 1875, the business changed its name to Zurich Transport and Accident Insurance Company and expanded into accident insurance. The company expanded in the following years, with offices opening in Belgium, France, and the Netherlands. By 1880, the firm had exited its initial market and stopped providing marine insurance.

By the turn of the century, the firm had expanded its operations to include Russia and Spain and had renamed itself Zurich General Accident and Liability Insurance Company.

In 1912, Zurich spread into the United States, and in 1923, it expanded into Canada. The company made acquisitions and formed relationships over the next few decades, including becoming the official insurer for Ford cars in 1925. The firm changed its name to Zurich Insurance Company in 1955. By the end of the twentieth century, the firm had expanded its activities in the United States. It had absorbed Farmers Insurance Group, establishing Zurich Financial Services as a single holding company.

Zurich also provides a wide range of personal and commercial insurance policies, which are offered by several subsidiaries and directly. They were ranked 142 on the Fortune Global 500 in 2018. In the U.S., they do not write personal insurance products directly but offer commercial insurance through Zurich, North America.

Products from Zurich

What makes Zurich Insurance so well-known? Zurich's goods vary depending on where you live; for this analysis, we've only looked at those underwritten directly by Zurich in the United States. Farmers Insurance Group is evaluated independently and operates on its own.

Zurich North America offers a wide range of items, including business package insurance and employee benefits.

Consumer Reviews and Ratings

Is Zurich a reputable insurance provider? The Better Business Bureau (BBB) has given Zurich North America an A+ ranking, and it was recently accredited in 2017. In the last three years, the company has received 66 complaints, not a large number considering its size. The BBB website has 30 customer reviews with an average rating of 1.5 stars. The majority of the negative feedback focuses on allegations issues.

Zurich has 57 ratings on Consumer Affairs, with an overall one-star ranking. Again, for such a large corporation, this is a small number of grievances. The grievances mentioned are all about claims, which is typical of a business like this.

We considered Zurich to have a strong reputation in general, with no big problems or red flags in the reviews.

Final Thoughts

Since Zurich is a commercial insurer with a range of specialty products, it is best to speak with a broker to determine whether or not the company and its products are right for your needs. They have a good reputation, a long history, and a sound financial situation, so they're well worth considering.

Benefits for a Group

Zurich provides a variety of group benefits for employers, primarily employer-paid and voluntary employee-paid options, emphasizing accident and supplementary health. The following items are available:

• Accident in a group
• Death and dismemberment as a result of an accident (AD&D)
• Life in a Group
• Accident during a business trip
• Accident involving students and participants
• Truckers are involved in a work-related accident.
• Medically induced weight loss
• Excessive managed care
• Disability, both long-term and short-term
• International wellness and ex-pats
• Zurich also writes industry worker's compensation insurance.

Insurance for Car Rentals

Zurich provides rental car insurance for fleets that covers liabilities as well as physical harm. Customer service fleets, recreational vehicles, and car and truck rentals all have products available.

Builder's Peril

Builder's liability insurance is valid for new building and renovation projects. Commercial and residential coverage is available, with options ranging from multi-story buildings to single-family homes.

Liability & Casualty

Zurich offers a variety of casualty and liability insurance schemes. Domestic and international casualty insurance, as well as compensation for Professional Employment Organizations, are among them (PEO)

Management liability, occupational liability, a wide variety of environmental liability products, and umbrella policies to expand liability limits are all examples of specialty liability products.

Real estate

Zurich offers a wide range of property insurance plans, which can be purchased separately or as part of a business policy. Domestic and foreign goods, as well as global insurance, are available.

All of the property programs can be customized to meet the needs of each industry and business.

Business Insurance Program

Zurich Programs is a division of Zurich Insurance Group specializing in specialty package plans for a wide range of industries. There are some of them:

Captives in the Automotive Aftermarket

ERISA Fidelity Bonds for the Construction Industry

Financial Institutions

Property Sovereign Indian Nations Commercial Auto Hospitality, Recreation, and Travel Professional Services

Zurich is a major commercial auto insurer with programs to meet a wide range of business auto coverage requirements. They offer over 250 different types of commercial auto insurance, ranging from corporate vehicles to large trucking fleets.

Other Services and Products

Surety bonds, cybersecurity, trade credit, and political risk, and wholesale & surplus are only a few of the many items Zurich offers.

Rates

There are no online prices for any of Zurich's goods, which is expected from a business of this nature. Since these items are customized and tailored to the needs of the business, providing an accurate quote necessitates extensive information about the business.

Zurich brokers can help you get quotes by determining what kind of coverage you need, tailoring packages, and generating quotes.

Claims

Zurich claims can be submitted in several different ways. Initial claim reports can be submitted via the company's website using an online form. A toll-free number can be used to file a claim, which is available 24 hours a day, 7 days a week. A fax number and an email address are also listed on the website for filing claims.

When a claim has been registered and entered into the claim system, the website requires users to upload or email documentation related to the claim. A phone number is also provided for follow-up questions, as is a link to find a local claims representative.

For each form of regulation, the website provides specific claim reporting instructions. There's also a FAQ section with claim-related advice. Overall, it's a beneficial and easy-to-find claims section that gives customers all the details they need to launch a claim and understand the procedure.