A List of Insurance Companies That You’ll Find on the Internet

This article takes the opportunity to examine a list of insurance companies that you’ll find on the internet. The run-down is by no means exhaustive, but covers the major players and what you need to know about them.

The largest publicly owned motor insurance company in the list of insurance companies, with annual revenue of almost $30 billion, is Allstate. Both CNN and respected corporate journal Business Week have caned Allstate at different times for allegedly reneging on meeting its benefit obligations to policyholders.

Liberty Mutual is another in the $30 billion league, and is truly global; the company owns or has interests in other insurers from South America to the Far East. Established back in 1912, Liberty Mutual these days operates a research institute dedicated to enhancing standards of workplace health and safety.

Nationwide, with annual earnings of $25 billion, is not far behind Allstate as a mega-motor vehicle insurer. Founded 85 years ago, offering insurance exclusively to Ohio farmers, Nationwide is still a mutual insurance company. The company later extended its coverage to farmers in neighbouring states, then in 1934 to the general public. Nationwide is renowned for its liberal social policies and fringe group support, championing such causes as negroes and homosexuality.

Founded in Shanghai in 1919, now headquartered in New York, is the American Insurance Group. The company took a severe battering in the financial slump of two years ago, but is recovering well – thanks to its being a beneficiary of the American government bail-out; AIG’s revenue has been consistently close to the $30 billion mark.

Farmers’ Insurance was set up in 1927, and presently shows listed assets of $10 billion. Although its financial position is rated as ranging from good to very good, a national consumer watchdog declared Farmers’ as the worst for challenging claims and delaying payments; that, however, was eight years ago, and three years later Farmers’ had lifted its game to a rating of “most improved.”

Progressive is perhaps the most appositely named of the insurance companies on our list of insurance companies. This is an insurer that focuses on motor car coverage, and is renowned for its having embraced technology to the hilt. Progressive has worked vigorously to streamline its procedures and cut overheads, being an early participant in internet promotion and the first US vehicle insurer to issue policies over the telephone.

The last motor vehicle insurer we’ll look at in this quick overview is GEICO, which cleverly played on its acronym to popularise its name and profile by introducing Gecko in its advertising. GEICO began as a vehicle insurer for civil servants, but now offers policies to the general public.


Comments are closed.