Does Farmington Casualty Company Still Sell Insurance?
Free Insurance Comparison
Secured with SHA-256 Encryption
Asked April 29, 2013
Farmington Casualty Company does not sell insurance any longer. The company, like many other insurance companies, was acquired by a larger insurance company during the turmoil of 2007-2008. Today, the company still exists, but only as a holding company for Travelers Companies. Holding companies, rather than selling insurance, buy and trade the stock of other companies in the name of the parent corporation.
Farmington Casualty Company was originally incorporated in 1982, in Hartford CT. The company did well for a number of years before its acquisition by the Travelers Companies, reporting total assets of over 983 million dollars and working capital of 6 million dollars shortly before it was purchased. As a holding company, the assets of Farmington Casualty Company were absorbed into the Travelers Company, and all of their policies were rewritten by the new owner.
Farmington Casualty Company, like other holding companies, is not rated directly by financial ratings companies such as the A.M. Best Company. Farmington Casualty Company shares the rating of the parent company, which was listed as "A+" (Superior) when it was last rated in May of 2012. Bear in mind that ratings may change, and check the current rating of the company before you purchase a policy.
Insurance Products Offered
Farmington Casualty Company offered a range of insurance products designed for both individual and corporate needs. Auto, boat, and airplane insurance were available for vehicles, including truck and motorcycle coverage. The company also sold health insurance, home insurance, and coverage for business and other corporate casualty insurance needs.
Answered April 29, 2013 by Anonymous