Tokio Marine & Nichido Fire Insurance Company Overview

  • Tokio Marin Nichido insurance

Tokio Marine & Nichido Fire Insurance Company Overview

company

If you want to get an insurance company that has been around for ages and you don’t necessarily care if the company was originally from Canada, you could look at Tokio Marine & Nichido Fire Insurance Company. The company was first established back in August of 1879. Originally based out of Japan, the company has its headquarters in Tokyo. With billions in Assets and employees numbering over 17 thousand, it is highly unlikely that Tokio Marine & Nichido Fire Insurance Company is going to go out of business anytime soon. The company has lasted this long without a perfect track record. In 2015, the company made a total profit in Canada of $1,953,000. However, they only missed conducting business in one Canadian province, which is very impressive.

Products Offered by Tokio Marine & Nichido Fire Insurance

In order for you to be able to decide if this is the right company for you or not, you should probably learn about what products they offer. Some insurance companies might specialize in one particular item, but not Tokio Marine & Nichido Fire Insurance Company. This company offers a very wide range of products, largely due to the fact that they are a global company. Here are some of the many things that Tokio Marine & Nichido Fire Insurance currently have to offer their clients:

  • Auto Insurance
  • Fire
  • Marine and marine craft
  • Natural disaster
  • Accident
  • Travel insurance
  • Leisure
  • Business

Tokio Marine & Nichido Fire Insurance Car Insurance Review

Although profits and losses might seem like they are important, you are likely also going to want to have a look at total written auto premium. In a given year, insurance companies don’t really know how many people are going to submit a claim. They may have collected too much in insurance premiums and they may have collected too little. Generally the more total written auto premium there is the better. This essentially just means that the company has had more business and since profits are up in the air anyways, more business is a good thing. In 2015, Tokio Marine & Nichido Fire Insurance Company made a total written auto premium of $8,931,000. Although this number may not be the largest on record or close to it for that matter, this is a very respectable number for a Tokyo based company and a number that should safely allow you to be able to consider this company for your insurance.

Tokio Marine & Nichido Fire Insurance Car Insurance Products:

products

Claims:

One thing that makes Tokio Marine & Nichido Fire Insurance Company stand out is their claims process. Most insurance companies have a number that you can call that is available on a 24/7 basis, but not all of them do. Tokio Marine & Nichido Fire Insurance Company has that available and they also have an email that you can report claims to if you don’t want to talk with someone on the phone. This is a very nice convenience features that this insurance company offers and one that is definitely better than being put on hold.

Claims Outline:

One great thing about this insurance company is that they tell you exactly how to submit a claim directly on their website. Submitting a claim is not the easiest thing to do, but it is definitely important to make sure that you are doing it properly. If you choose to get insurance through Tokio Marine & Nichido Fire Insurance Company, you will no longer have to worry about making sure that you properly submitted your claim. The company actually takes this claims directory to the next step and further than most insurance companies as they actually have a handy accident print out that you can leave in your glove box and fill out when you need to.

Financial backing:

One of the main problems that you might encounter when shopping around for an insurance company is that the provider doesn’t have a large financial backing. If you want a large financial backing, you should feel safe getting insurance through Tokio Marine & Nichido Fire Insurance Company. The company is actually Japan’s oldest leading property and casualty insurer and has been in North America for over a hundred years. All of this time, adjusting policies and collecting money from North American clients. If you haven’t put it together yet, this essentially means that this company is extremely safe to get insurance through, which you definitely can’t say about every insurance company on the market.

Transportation:

If you happen to be a business owner and are looking to get auto insurance, you might be interested in hearing what sorts of transportation-related insurance packages the company offers. You can get things like legal liability, accident coverage, glass coverage, imposter theft coverage, cargo coverage, and even coverage for errors. Best of all, the company offers transportation packages in almost all of its locations across Canada and the United States. As you likely know, cargo and collision can cost a fortune depending on the company you are going with. It might definitely be worth your while to check further into these packages if you are in the trucking industry.

Tokio Marine & Nichido Fire Insurance Total Sales/ ranking by province

ranking

One of the main things that stands out about Tokio Marine & Nichido Fire Insurance Company compared to other companies is the fact that it does business almost everywhere in Canada. This can be taken as both good and bad news. It means that the company is not exactly specialized in one area and therefore they might not have the highest income in a particular province. However, over time spreading out like this could prove to be wise as it definitely opens up Tokio Marine & Nichido Fire Insurance Company to a wider customer base. To show you Tokio Marine & Nichido Fire Insurance Company’s current business, here is a table showing the direct written premiums they collected in each province as well as how they ranked compared to the top 30 insurance companies:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland35,00023
Prince Edward Island200026
Nova Scotia94,00029
New Brunswick25,00030
Quebec528,00030
Ontario7,705,000N/A
Manitoba400027
Saskatchewan500029
Alberta398,000N/A
British Columbia132,00019
Yukon Territory1000N/A
Northwest Territories2000N/A
NunavutN/AN/A

Resources:

http://www.tokiomarine-nichido.co.jp/en/us/

https://www.bloomberg.com/pro files/companies/8751:JP-tokio-marine-&-nichido-fire-insurance-co-ltd

https://tmamerica.com/products/Transportation.aspx

https://tmamerica.com/documents/Glove%20Box%20(English).pdf