Top 10 Reasons To Select AmTrust

By: Jeff Hatch

October 19, 2015

Warrantech is a subsidiary of AmTrust, one of the strongest and most financially stable companies in the industry. AmTrust brings this financial strength to Warrantech, which allows us to offer customizable plans and benefits that most competitors simply cannot provide. 
 
1. Financial Strength and Stability – Publicly traded on the NASDAQ (AFSI) with more than $6.1 billion in gross written premium and over $15 billion in assets, with an A.M. Best rating of "A" (Excellent), Financial Size “XIII.”
 
2. Multi-State Capability – Workers’ comp written in over 40 states, and all lines of insurance written in more than 30 states.
 
3. Flexible Payment Plans – Installment plans, AmTrust AutoPay (direct debit) and Pay-As-You-Owe® (PAYO®) provide seamless premium payments, saving time and money.
 
4. Superior Claims Handling – 24/7 claims reporting with live assistance, and seasoned claims professionals with assigned case loads well below the industry average.
 
5. Exceptional Loss Control – Representatives located nationwide to conduct safety inspections, site evaluations and loss prevention training.
 
6. User-Friendly Submission System – Easy-to-use, web-based system provides policy, endorsement and loss history at your fingertips, and allows you to submit and chat online with your underwriter about a submitted risk.
 
7. Competitive LCM Rate Structure – We are continuously evaluating and adjusting our LCMs to reflect our loss experience and competitive environment.
 
8. Competitive Agency Commission – Our commission rates generally range from 9%-20% based upon the product written.
 
9. Expanding P&C Product Offering – We are continuously evaluating the market and our agents’ needs to deliver new coverages from Workers’ Comp to Commercial Package and a wide variety of niche products.
 
10. Satisfying Customer Service – Exceptional service is the mantra at AmTrust, delivered by our field marketing representatives, regional underwriters and centralized customer service professionals.

Filed Under: customer, financial, services, stability, strength, Warrantech

The Importance of A.M. Best's Financial Strength Ratings

By: Global Administrator

March 28, 2014

When deciding on an extended service plan or vehicle service contract, it is important to know who is backing your coverage. Is the company reputable? Is it financially stable? And, just as significant on your part, do you really have time to research each and every company?

This is where A.M. Best comes into the picture. As the world's oldest and most authoritative insurance rating and information source, it sets the benchmark for determining an organization's credibility. Insurance agents, brokers, financial advisors, banks and other insurance professionals have all come to rely on A.M. Best's ratings and analysis to verify each insurer's financial strength. And if you're like most smart consumers who insist on doing thorough research, this rating can be one of your most valuable tools.

A.M. Best's Financial Strength Ratings provide you with an independent third-party evaluation of an insurer's ability to fulfill its financial obligations and can help serve as a key indicator as to whether or not your coverage plan is a smart long-term investment. Each rating is based on a comprehensive quantitative and qualitative evaluation of a company's balance sheet strength, operating performance and business profile. So you're basically getting a snapshot of how the company's business plan is expected to perform over an extended period of time.

And when you consider how volatile the market has been in recent years, these ratings have become even more important. A.M. Best has a proven track record in indicating which insurers may encounter financial difficulties. Or as Warranty Week noted in a recent article: "A.M. Best gets it right over the long term … there is an insistence on the part of some banks and credit unions that they won't finance a VSC (vehicle service contract) without an A- or better. And we'd suggest this threshold could also become a defining level for VSC buyers. Ask the question: 'Who is your underwriter and are they rated A- or better?' If not, why not?"

For more information on A.M Best's Financial Strength Ratings, visit http://www.ambest.com/ratings/guide.asp

 

Filed Under: A.M., Best, contract, financial, ratings, service, strength, vehicle, Warranty, Week