Tower Group Company: commercial insurance products

Introduction:

Tower Group Company is a successful provider of property and casualty products and services in diversified niche. It operates its business operations through various insurance companies and other related subsidiaries. Tower Group International, Ltd. is its holding company and is listed on the NADSAQ with symbol TWGP. It delivers a broad range of product lines across the various industries using multiple channels of distribution in select market distribution through its insurance subsidiaries that is collectively referred to as Tower Group Companies. It specifically provides commercial insurance products to small and medium-sized business and personal insurance products to individuals through its dedicated team of wholesale and retail agents.

Company Details:

Company Name          : Tower Group Companies

Service                        : Insurance Service

Headquarter                : 59 Maiden Lane, Floor 42, New York, NY 10038

Phone                          : (212) 655-2000

Toll Free                      : (877) 490-0049

Website/URL              : http://www.twrgrp.com/

It meets the needs of an extensive customer base by offering a broad platform of products to its customers, which spans a growing selection of customized personal and commercial line of insurance products. Tower Group companies is committed to continuously evaluate and respond changing market so that it can quickly address the evolving needs of its producers, effectively meet the challenges in the market, and take the advantage of emerging opportunities. 

Tower Group Companies conducts its business operations through the following insurance companies:

Tower Insurance Company of New York      Tower National Insurance Company

Hermitage Insurance Company                      Preserver Insurance Company

North East Insurance Company                      Castle Point National Insurance Company

Kodiak Insurance Company                           Massachusetts Homeland Insurance Company

York Insurance Company of Maine               Castle Point Management Corp.

Tower Risk Management Corp.                      Adirondack AIF, LLC.

New Jersey Skylands Management, LCC.

Insurance Products:

1.      Commercial Business:

Tower Group Companies designs and markets a wide range of commercial insurance products that meets the specific market segments. Its insurance products are designed to meet several pricing tiers, and varying levels of coverage and underwriting requirements. With this approach, it is Tower Group Companies is able to offer a portfolio of insurance products targeting to its insured’s’ needs. All the policies offered by Tower Group Companies vary from state to state.

·           Commercial Package:

Commercial Package Policy (CPP) of Tower Group Companies provides property and casualty insurance coverage focusing on classes of business such as artisan contractors, real estate, service, retail, restaurants, and light manufacturing. Tower’s CPP on webplus provides a easy and quick way to quote bind and issue CPP policies online to its producers. It offers comprehensive package that is competitively priced to meet the policyholders’ needs.

·           Business Owners:

Business Owners Policy (BOP) of Tower Group Companies provides property and liability coverage to the small business. This policy provides a broad built-in insurance coverage for business focusing on artisan contractors, real estate, service, restaurants, retail, garage, and light manufacturing. Tower’s POL product provides a easy and quick way to quote, bind and issue Business Owners policies online.

·           Landlord Package Policy:

Landlord Package Policy of Tower Group Companies provides property and casualty insurance coverage foe tenant-occupied dwellings 1-4 family dwellings. This policy is marketed for both owner occupied and non-owner occupied risks. This policy is also available online through POL.

·           Workers Compensation:

Tower Group Companies provides broad range of workers compensation products. It has web-based rating platforms in most of the states that offers an efficient and user-friendly way to manage the large volume of workers compensation business by reducing transaction time and cost. It offers multi-state coverage in a single policy and this product can be customized for association and program business.

·           General Liability:

Tower Group Companies writes mono-line commercial general liability policy for risks that don’t have a property exposures or the one whose property is insured elsewhere. This policy is primarily targeted to artisan contractors, real estate, and automotive service risks.

·           Commercial Automobiles:

Commercial automobile product of Tower Group Companies is available on single vehicle, fleet, and non-fleet business for variety of industries. Commercial Automobile Policy is available online through webplus.

·           Commercial Umbrella:

Commercial Umbrella product of Tower Group Companies provides additional liability insurance coverage with limits of $1000000- $5000000 to its policyholders who insures their general liability exposure with any of Tower’s subsidiaries through commercial package, business owners, or commercial general liability policy. 

2.      Personal Insurance:

Tower Group Companies offers a wide range of insurance policies for personal lines property in the Northeast, California and in other states throughout the country. Customers of Tower Group Companies include the individuals who own/rent their homes, Co-ops, apartments, or condominiums as well as those who need private passenger automobile insurance. All the policies offered by Tower Group Companies vary from state to state.

·           Package Solutions:

Tower’s package solution is a single policy with single bill that provides a complete convenience. It is a combination of both home and auto insurance coverage. This Custom Pac personal insurance product delivers the total insurance solution: personal property, motor vehicles, convenience, and value for your home, superior protection, and personal liability needs.

·           Home Insurance:

Towers’ home insurance policy helps to protect your residence and personal belongings whether it is a cottage, multi-family residence, or mansion. One can add more coverage for jewelry, watches, silverwares, furs, and other valuable items. Towers’ flagship package policy is a Custom Pac   that delivers superior coverage for personal property, motor vehicles, home, and personal liability needs.

·           Auto Insurance:

Towers’ auto insurance policy delivers insurance solution for vehicles or operators. It offers standard coverage for property damage, liability, and medical. Towers’ flagship package policy is a Custom Pac that delivers insurance coverage for home, motor vehicle, personal property, and personal liability needs.