Is North American Specialty Insurance Company A Good Company?

UPDATED: Mar 5, 2013

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UPDATED: Mar 5, 2013Fact Checked

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Asked March 5, 2013

1 Answer

North American Specialty Insurance is a specialty insurer owned by the Swiss Re insurance group. Even though the company is owned by a different insurance firm, it continues to operate independently of the parent, maintaining their own website, writing their own policies, and otherwise operating without the involvement of Swiss Re.

Financial Rating
North American Specialty Insurance is rated "A+"(Superior) by the A.M. Best financial ratings company. They are reported to have total assets in excess of 2 billion dollars, and have a stable long term outlook of "aa-." North American Specialty Insurance was last rated in January of 2013. The company reports a financial excess of over 3 million dollars, after 1.25 million dollars in written policies have been factored out.

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Customer Satisfaction
North American Specialty Insurance is a commercial insurance company, and does not sell policies to the general public. Because of the niche the company fills, they tend to have a low number of consumer complaints and a high rate of renewal, based on their unique position in the insurance field.

Company Availability
North American Specialty Insurance is available throughout the United States. Because the company is owned by an international insurance group, they are also able to provide coverage outside the country, or for items which will be crossing national boundaries.

Insurance Products Offered
North American Specialty Insurance is a specialty and reinsurance company. Their insurance products may seem to be a bit out of the ordinary to most of us, but fill, as the company name implies, a specialty niche. The company specializes in bonds, including bid bonds, performance bonds, supply bonds, and bond verification. They also insure commercial contract obligations and provide special coverage for such things as musical instruments, car dealerships, and mortgage brokers.

Answered March 5, 2013 by Anonymous

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