XL Specialty Insurance Company Overview
If you are looking to grab yourself an insurance company with extremely large financial backing, you might want to consider this one. This is a company that is located in large countries across the globe. You will find XL Specialty Insurance Company in countries such as Asia, Africa, Europe, and even Australia. All of these countries combined with how large this company is throughout both South and North America means that this company is among the largest. To give you an idea of just how large this company is, they had a loss of $58,398,000 in Canada in 2015, which is not even remotely close to the amount of money that they collect on a worldwide basis. The company is beyond capable of paying out losses such as this, which is why it is such a reliable insurance company.
Products Offered by XL Specialty Insurance Company
Choosing the right insurance company can be a real struggle. Sometimes the best way of narrowing down your options is to actually come up with the exact things that you want from your insurance company and attempt to find a match. XL Specialty Insurance Company certainly has a lot that it can offer you if you decide that you might be interested in it. However, we thought it would be easiest to list the products that they offer so that you can decide that straight away. Here is what they currently have:
- Energy, property, and construction
- Property risk
XL Specialty Insurance Car Insurance Review
One thing that might interest you about this company is how much money they collect in auto premiums. Although this number may be minuscule compared to the massive amount of money that this company collects as a whole, it helps to give you an idea of how large of a presence they have in Canada. The company had a total written auto premium of $1,520,000 in 2015. This number isn’t big by any means, but it is important to keep in mind that XL Specialty Insurance Company managed to conduct business in all but two of Canada’s provinces. This is an extremely impressive feat and one that will likely result in them being able to have a larger client base for years to come.
XL Specialty Insurance Car Insurance Products:
One of the best things about getting insurance through a large company like XL Specialty Insurance Company is that they have the ability to be able to provide a lot of liability coverage and the financial backing to actually be able to pay it out if needed. The company offers automotive liability coverage, general coverage, and even automotive coverage for employers. When you are driving on the road it is extremely important to have high liability coverage as you never know what could happen. With XL Specialty Insurance Company, you shouldn’t have to worry quite as much.
Other than just being able to pay out large liability claims, a company with a large financial backing like this one has doesn’t need to make as much money off of each and every customer. What this means for you, is that you are able to get cheaper rates on your insurance. You can expect to be able to get discounts for things like group insurance and if you are re-signing a policy with the company. Discounts are a great reason why you might want to consider XL Specialty Insurance Company.
Ease of access:
One of the best reasons for choosing XL Specialty Insurance Company is for a reason completely different from what you might think. If you are a business person, you likely do some traveling around the world on occasion. XL Specialty Insurance Company has offices around the world and is capable of serving clients in 210 different countries. This essentially means that no matter where you are, you can make sure that you have good quality insurance coverage from a company that is easy to get hold of.
When you are submitting an auto insurance claim, many companies force you to have to go through the phone. It is especially annoying when you cannot understand the person on the other end of the line for one reason or another. You could have a really simple problem or question that could require a quick and easy answer and be forced to wait for ages to hear it. Fortunately, if you choose to go with XL Specialty Insurance Company, you can avoid this mishap. Instead, you can contact the company online and ask any questions that you have, or get in touch with your local office so that you can talk to someone who actually speaks in your language. XL Specialty Insurance Company definitely has the staff and all of the locations to be able to take your call in a fairly timely manner, which is always nice.
XL Specialty Insurance Total Sales/ ranking by province
The more business a company does in your area, the more likely it is that you will be able to find a good quality auto policy with them. Generally, the public will flock to the insurance companies that are easily available and that have the best insurance rates. Auto insurance is a very competitive atmosphere and companies are constantly fighting to try to get your money. Keeping this in mind, you might want to look to see how popular XL Specialty Insurance Company is in your province in comparison to the top 30 insurance companies. This can assist you in being able to decide if they are easy enough to get insurance through and if it is likely that they have good enough rates that you should get into contact with them. The table below covers the company’s business across Canada and how they ranked in comparison to other insurance companies:
|Province:||Direct Written Premiums 2015||Ranking on Top 30|
|Prince Edward Island||1000||27|