Axis Surplus Insurance Company (Illinois): Contacts, Coverage, Financials, Claims, Reviews, Benefits and FAQs

Axis Surplus Insurance Company is famous for its strong underwriting skills. It is dedicated to serving customers and can create new insurance solutions for tricky risks.

Only licensed surplus line brokers can access Axis Surplus Insurance Company.

Axis Surplus Insurance Company (Illinois)
PHOTO: Dell USA

Axis Surplus Insurance Company (Illinois)

Axis Surplus Insurance Company, located in Illinois, holds a license to offer surplus lines insurance within the state. It’s a part of AXIS Capital Holding Limited, an international company specializing in insurance and reinsurance.

Axis Surplus Insurance Company is renowned for its strong underwriting skills, dedication to customer service, and knack for creating creative insurance solutions for complex risks.

Contacts

Axis Surplus Insurance Company (Illinois) doesn’t publicly provide a direct phone number or email address.

To get in touch with Axis Surplus Insurance Company, you can reach out to Axis Capital Holding Limited’s Chicago office by calling (312) 977-0401.

Category Information
Address 233 South Wacker Drive Suite 3510, Chicago, IL 60606
Phone (312) 977-0401
Fax (312) 977-0444
Website https://www.axiscapital.com/

Who owns Axis Surplus Insurance Company (Illinois)?

AXIS Capital Holding Limited, an international specialty insurer and reinsurer, owns Axis Surplus Insurance Company (Illinois).

AXIS Capital Holding Limited is based in Hamilton, Bermuda, and is publicly traded on the New York Stock Exchange as “AXS.

With offices in 28 countries worldwide, AXIS Capital Holding Limited offers a broad range of specialty insurance and reinsurance products.

These products cater to various specialized markets, including professional liability, directors and officers liability, employment practices liability, errors and omissions liability, general liability, property and casualty, marine, aviation, surety, and transportation.

As one of AXIS Capital Holding Limited’s subsidiaries, Axis Surplus Insurance Company is authorized to provide surplus lines insurance in Illinois.

Surplus lines insurance is written by companies not licensed in the state where it’s purchased. It is often used to cover intricate risks that standard insurers can’t handle.

Services and Products

Axis Surplus Insurance Company (Illinois) provides a broad range of specialty insurance products to specific markets. These include:

  1. Professional Liability: For professionals like lawyers, accountants, engineers, and architects
  2. Directors and Officers Liability: Shields company directors and officers from personal liability in lawsuits.
  3. Employment Practices Liability: Safeguards businesses against claims of discrimination, harassment, and employment-related issues.
  4. Errors and Omissions Liability: Offers protection against professional negligence claims.
  5. General Liability: Covers businesses in cases of bodily injury or property damage claims.
  6. Property and Casualty: Provides coverage against losses from events like fire, theft, vandalism, and natural disasters.
  7. Marine Insurance: Guards against losses in the transportation of goods by sea.
  8. Aviation Insurance: Covers losses related to the operation of aircraft.
  9. Surety Insurance: Guarantees the performance of contracts.
  10. Transportation Insurance: Protects against losses in the transportation of goods by land or air.

Axis Surplus Insurance Company is recognized for its robust underwriting expertise, commitment to customer service, and innovative solutions for complex risks.

Financial Details of Axis Surplus Insurance Company (Illinois)

Axis Surplus Insurance Company (Illinois)
PHOTO | WINK News

Axis Capital Holding Limited, the parent company of Axis Surplus Insurance Company, is a publicly traded company.

You can find its financial information on the Securities and Exchange Commission’s (SEC) website.

As per the SEC, Axis Capital Holding Limited reported these financial results for the year ending December 31, 2022:

  • Gross written premiums: $10.2 billion
  • Net earned premiums: $8.9 billion
  • Net income: $554 million

Axis Capital Holding Limited stands as a financially robust company with a consistent history of profitability.

It holds a financial strength rating of A+ from S&P Global Ratings and A- from A.M. Best.

Axis Surplus Insurance Company (Illinois):

Claims, Cancellations and Renewals

Claims: Axis Surplus Insurance Company promises to make the claims process fair and quick for its policyholders. Their experienced claims professionals are committed to guiding policyholders through this process.

Cancellations: Your policy with Axis Surplus Insurance Company can be canceled for various reasons, such as non-payment, fraud, or false information. If your policy gets canceled, the company will send you a written notice explaining the cancellation.

Renewals: Normally, Axis Surplus Insurance Company will renew your policy when it expires. However, they may choose not to renew it for reasons like a poor claims history or changes in their underwriting preferences. If your policy isn’t renewed, you’ll get a written notice of non-renewal from the company.

Axis Surplus Insurance Company (Illinois)
PHOTO | The Hindu Business Line

Affiliates and Partnerships

Axis Surplus Insurance Company (Illinois) is a part of AXIS Capital Holding Limited, which is a global specialist insurer and reinsurer. AXIS Capital Holding Limited has several affiliates and partnerships, including:

Affiliates Partnerships
AXIS Reinsurance Company AIG
AXIS Specialty SE Beazley
AXIS Specialty Holdings Berkshire Hathaway Specialty Ins.
AXIS Specialty Management CNA
AXIS Specialty Services Chubb
Liberty Mutual
Munich Re
Swiss Re

Customer Reviews

Axis Surplus Insurance Company (Illinois) has limited customer reviews online. But the small number of available reviews are mostly positive.

For instance, one customer said, “Axis Surplus Insurance Company has been an excellent partner for our business.

They respond to our needs promptly and provide competitive rates. I’d certainly recommend them to other businesses.”

Potential benefits of purchasing insurance from Axis Surplus Insurance Company (Illinois)

  1. Diverse Insurance Products: Axis Surplus Insurance Company offers a wide array of specialty insurance products, catering to various niche markets. This broad coverage scope allows businesses and individuals with unique or complex insurance needs to find specialized coverage that may not be available from other insurers.
  2. Strong Underwriting Expertise: The company is well-regarded for its robust underwriting expertise. This expertise means that Axis Surplus Insurance Company possesses a deep understanding of the risks it covers, enabling it to price its insurance products accurately.
  3. Customer Service Commitment: Axis Surplus Insurance Company is dedicated to delivering top-notch customer service. This translates into responsiveness to customer inquiries and unwavering support for customers navigating the claims process.
  4. Financial Stability: As a subsidiary of AXIS Capital Holding Limited, Axis Surplus Insurance Company benefits from the financial strength of its parent company. AXIS Capital Holding Limited boasts a strong history of profitability, instilling confidence in policyholders that the company can fulfill its financial obligations.

Frequently Asked Questions (FAQs)

What is surplus lines insurance?

Surplus lines insurance gets written by companies not licensed to work in the state where you’re buying insurance.

People often use surplus lines insurance to cover tricky risks that regular insurance companies can’t handle.

How do I purchase insurance from Axis Surplus Insurance Company?

To buy insurance from Axis Surplus Insurance Company, get in touch with a licensed surplus lines broker.

Your broker will assist you in finding suitable coverage and obtaining a quote from Axis Surplus Insurance Company.

What is the claims process like with Axis?

To report a claim with Axis Surplus Insurance Company, reach out to your surplus lines broker. Your broker will aid you in filing the claim and offer the required support.