|[May 07, 2014]
Liberty Mutual Now Offers Assumed Reinsurance for Equipment Breakdown
BOSTON --(Business Wire)--
Liberty Mutual Insurance now offers property and casualty insurers a new
source for reinsurance of equipment breakdown.
"We can offer this product because of the experience we've gained over
the last five years," notes Mike Martin, executive vice president and
general manager, Liberty Mutual's National Insurance Property operation.
"Five years ago, we started offering equipment breakdown coverage to
existing property clients, and quickly expanded to provide this coverage
on commercial packages and monoline policies. Along the way, we
developed the superior underwriting, claims, risk engineering and
jurisdiction inspection expertise that we now make available through our
new assumed reinsurance product."
Liberty Mutual provides equipment breakdown assumed reinsurance to
insurers through treaties, programs and on a case-by-case basis. All
programs are customized and seamlessly delivered to policyholders.
"We see a great opportunity in equipment beakdown, both as a primary
provider and a reinsurer," notes Martin. "The new assumed reinsurance
product gives primary insurers an effective way to meet the
highly-specialized needs of certain policyholders, while continuing to
focus on their core products and services."
For more information on Liberty Mutual's assumed reinsurance for
equipment breakdown, please contact an underwriter at firstname.lastname@example.org
About Liberty Mutual Insurance
"Helping people live safer, more secure lives" since 1912, Boston-based
Liberty Mutual Insurance is a diversified global insurer and the third
largest property and casualty insurer in the U.S. based on 2013 direct
premiums written, as reported by the National Association of Insurance
Liberty Mutual Insurance also ranks 81st on the Fortune 100 list of
largest corporations in the U.S. based on 2012 revenue. As of December
31, 2013, Liberty Mutual Insurance had $121.2 billion in consolidated
assets, $102.2 billion in consolidated liabilities and $38.5 billion in
annual consolidated revenue.
Liberty Mutual Insurance offers a wide range of insurance products and
services, including personal automobile, homeowners, workers
compensation, property, commercial automobile, general liability, global
specialty, group disability, reinsurance and surety. Liberty Mutual
employs over 50,000 people in more than 900 offices throughout the world.
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