Insurer’s National Insurance Operation Continues to Expand Appetite, Capabilities and Products to Provide Tailored, Flexible Solutions to Complex Risks.
To help large companies, and the brokers who serve them, Liberty Mutual Insurance has launched two new excess casualty products: the Utility Follow Form Excess for the power and utility sectors, and the Integrated Occurrence Form for the large corporate sector. Both are available from Liberty Surplus Insurance Corp. on a surplus lines basis.
"Now brokers have another domestic market for products principally available off-shore, streamlining quoting, underwriting and administration,” notes Jeff Duncan, director of underwriting strategy for Liberty Mutual’s National Insurance Specialty operation. “The new products offer flexible solutions, backed by deep expertise. While offshore companies are generally not able to manage claims, we think the dynamic between claims and underwriting is critical to effective client service and long-term relationships.”
The Utility Follow Form Excess product for power generation and utility companies fits above lead excess casualty layers typically written by industry mutuals, providing critical excess coverage tailored to the specific needs of this sector. Liberty Surplus was able to build a comprehensive Follow Form solution by drawing on Liberty Mutual’s experience as a leading provider of primary Property & Casualty coverage to the power and utility sectors that understands the total risk exposures of this specialized industry, and how to effectively manage them. More about how Liberty helps energy companies better manage their total cost of risk can be seen at https://business.libertymutualgroup.com/energy.
The Integrated Occurrence Form allows a policyholder to aggregate like claims into a single “integrated occurrence” providing far greater flexibility in managing limits and coverage for the large liabilities often associated with long-tail claims. More about Liberty Mutual’s excess offering can be seen at https://business.libertymutualgroup.com/excess.
Liberty Surplus is a surplus lines insurer that distributes its policies through licensed surplus lines brokers. Liberty Surplus is not licensed as an authorized insurer in any state. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are not protected by such funds.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. We are the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of December 31, 2015, Liberty Mutual had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $37.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more about us by visiting www.libertymutualinsurance.com.
