Crum and Forster Insurance Company (New Jersey): Overview, Contacts, Products, Financials, Claims, Reviews and Benefits

Crum and Forster Insurance Company (New Jersey) holds a prominent position as a national property and casualty insurance company.

Their substantial and varied specialty platform safeguards businesses and organizations from the unpredictability of risk.

This assurance empowers them to tackle new challenges and thrive in today’s ever-more intricate and uncertain world.

An image illustrating Crum and Forster Insurance Company (New Jersey)
Crum & Forster is known for its strong underwriting expertise, commitment to customer service, and innovative risk management solutions. [Photo: GlassDoor] 

Crum and Forster Insurance Company (New Jersey)

It is a top-tier national property & casualty insurance company, providing a diverse range of insurance products and services to businesses and organizations of all sizes.

They are renowned for their robust underwriting expertise, unwavering dedication to customer service, and innovative risk management solutions.

With a lengthy history of aiding customers in risk management and safeguarding their businesses and employees.

Crum & Forster has earned an “A” (Excellent) rating from AM Best, the foremost independent insurance rating agency.

This rating mirrors the company’s robust financial stability, prudent underwriting practices, and steadfast commitment to policyholders.

Address and Contact Details

305 Madison Ave, Morristown, New Jersey 07960, US (973) 490-6600

Services and Products

Crum & Forster Insurance Company (New Jersey) provides an extensive array of services and products to businesses and organizations of all sizes, encompassing:

Commercial Property and Casualty Insurance

Accident and Health Insurance

Surety Insurance

  • Commercial surety bonds
  • Contract surety bonds
  • Bail bonds
  • Mortgage risk bonds
  • Fidelity bonds
  • License and permit bonds

Specialty Insurance

Crum & Forster also offers various risk management services, including risk assessments, safety training, and claims management.

Financial Details

An image illustration of Crum and Forster Insurance Company (New Jersey)
AM Best, the prominent independent insurance rating agency, has awarded Crum & Forster an “A” (excellent) rating. [Image: The Insurer]
Crum & Forster is well capitalized, boasting a strong balance sheet with a surplus exceeding $1 billion.

This financial strength enables the company to fulfill its obligations to policyholders and meet its financial commitments.

AM Best, the prominent independent insurance rating agency, has awarded Crum & Forster an “A” (excellent) rating.

This rating underscores the company’s robust financial stability, prudent underwriting practices, and unwavering commitment to policyholders.

To summarize, Crum & Forster is a financially robust company with a growing revenue stream, substantial capital reserves, and an excellent financial rating.

This instills confidence in policyholders regarding the company’s ability to honor claims and fulfill financial responsibilities. Key financial details include:

  • Revenue: $1.7 billion (2022)
  • Surplus: $1 billion+
  • AM Best rating: “A” (Excellent)

Claims Processing, Cancellations and Renewals

Crum & Forster Insurance Company (New Jersey) operates an efficient claims processing system designed to simplify the process for policyholders.

Policyholders can file claims through online, phone, or mail channels. Once a claim is submitted, a dedicated Crum & Forster claims adjuster is assigned to the case.

The adjuster investigates the claim and collaborates with the policyholder to determine the claim payment amount.

Crum & Forster is committed to ensuring prompt and equitable claims settlements, with an average payout time of 15 days.

In the event of a major catastrophe, Crum & Forster maintains a team of experienced claims adjusters ready to deploy to the scene and assist policyholders in recovering from the situation.

Cancellations and Renewals with Crum & Forster Insurance Company (New Jersey)

Regarding cancellations and renewals, Crum & Forster adheres to the regulatory requirement of providing policyholders with a 30-day notice of cancellation.

While policyholders can cancel their policies at any time, they may incur a cancellation fee.

The company automatically renews policies unless policyholders indicate otherwise. Renewal options include online, phone, or mail.

Crum & Forster sends policyholders a renewal notice 30 days before the policy’s expiration, outlining the current premium and any policy changes.

Policyholders also have the flexibility to request changes to their policies at any time, which may result in an adjustment of the premium.

Reviews and Customer Feedback

Crum & Forster Insurance Company (New Jersey) holds a varied reputation among its customers.

Some commend the company for its outstanding customer service and swift claims processing.

In contrast, others express grievances about elevated premiums and challenges encountered when attempting to cancel policies.

Benefits of choosing Crum & Forster Insurance Company (New Jersey)

  1. Strong Financial Stability: Crum & Forster’s robust financial standing and solid financial rating instill confidence that the company can meet its obligations and pay claims.
  2. Wide Range of Products and Services: They offer a comprehensive selection of insurance products and services to cater to the diverse needs of businesses and organizations of all sizes.
  3. Expert Underwriting and Risk Management: Crum & Forster boasts a team of seasoned underwriters and risk managers who aid customers in identifying and mitigating their risks effectively.
  4. Streamlined claims processing: Their efficient claims processing system simplifies the process for policyholders, making it convenient to file and settle claims.
  5. Prompt Claims Payout: Crum & Forster is committed to swift and equitable claims settlements, with an average payout time of just 15 days.

Moreover, Crum & Forster extends specific benefits to its customers:

  • Discounts for Bundling Multiple Policies: Customers can enjoy discounts when bundling multiple policies together.
  • Discounts for Eligible Policyholders: Those meeting specific criteria, such as a good credit score or safety precautions, are eligible for discounts.
  • 24/7 Customer Support: Policyholders have access to round-the-clock customer support for their convenience.
  • Online Claims Filing: Policyholders can conveniently file claims online, ensuring quick access to necessary coverage.