Crum & Forster Specialty Insurance Company: History, Contacts, Services, Financials details, Claims and Reviews

Crum & Forster Specialty Insurance Company (CFSIC) is a subsidiary of Crum & Forster Holdings Corp., which is part of Fairfax Financial Holdings Limited, a global property and casualty insurance group.

CFSIC provides specialty insurance solutions for niche markets, such as accident and health, aviation, environmental, excess and surplus lines, professional liability, and surety.

Crum & Forster Specialty Insurance Company
Crum & Forster Specialty Insurance Company | photo courtesy | GAWDA Buyers Guide

In this article, we will review the company’s history, services, financial performance, claims process, coverage details, and customer reviews.

About Crum & Forster Specialty Insurance Company

CFSIC was incorporated in 1967 as The Home Insurance Company of New York.

In 1995, it changed its name to The Home Insurance Company and became a member of the Crum & Forster group.

In 2003, it adopted its current name to reflect its focus on specialty insurance products.

The company operates as a reinsured rating unit within the Crum & Forster group, which means that it benefits from the financial strength and support of its parent company and affiliates.

CFSIC is licensed in all 50 states and the District of Columbia and has offices in various locations across the country.

Table of contacts of Crum & Forster Specialty Insurance Company

The following table lists some of the main contact information for CFSIC:

Contact Type Contact Details
Phone Number (800) 232-7380
Fax Number (973) 490-6720
Email Address info@cfins.com
Mailing Address 305 Madison Avenue, Morristown, NJ 07960
Website www.cfins.com

Services and products of Crum & Forster Specialty Insurance Company

CFSIC offers a wide range of specialty insurance solutions for various industries and markets.

Some of the services and products that CFSIC provides are:

Table of financial details of Crum & Forster Specialty Insurance Company

The following table summarizes some of the key financial details of CFSIC as of December 31, 2020:

Financial Metric Amount
Total Assets $1.9 billion
Total Liabilities $1.4 billion
Policyholders’ Surplus $502 million
Net Premiums Written $1.1 billion
Net Income $76 million
Combined Ratio 97.6%

 

Crum & Forster Specialty Insurance Company Claims process

CFSIC has a dedicated claims team that handles claims for each of its specialty lines.

The company strives to provide prompt and fair claims service to its policyholders and claimants.

To report a claim to CFSIC, policyholders can use one of the following methods:

Once a claim is reported, a claims representative will contact the policyholder to confirm the details and assign a claim number.

The claims representative will then investigate the claim, evaluate the coverage and liability, communicate with the parties involved, and negotiate a settlement if applicable.

Crum & Forster Specialty Insurance Company Coverage details

The coverage details of CFSIC’s policies vary depending on the type of insurance product, the industry or market segment, the risk profile of the insured, and the terms and conditions of the policy.

Policyholders should read their policy documents carefully to understand the scope, limits, exclusions, and endorsements of their coverage.

Some of the common features of CFSIC’s policies are:

Crum & Forster Specialty Insurance Company Customers Reviews

CFSIC has received mixed reviews from its customers on various online platforms. Some of the positive aspects that customers have praised are:

  • Responsive and helpful claims staff
  • Fast and fair claims settlement
  • Comprehensive and affordable coverage
  • Easy and convenient policy administration

Some of the negative aspects that customers have complained about are:

Table of Ratings of Crum & Forster Specialty Insurance Company

Rating Agency Rating Outlook Date
AM Best A (Excellent) Stable August 3, 2023
S&P A- (Strong) Stable June 30, 2023

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Conclusion

Crum & Forster Specialty Insurance Company is a specialty insurance provider that offers niche products for various industries and markets.

The company is part of the Crum & Forster group, which is backed by Fairfax Financial Holdings Limited, a global insurance group.

CFSIC has a strong financial position, a wide range of services and products, and a dedicated claims team.

However, the company also has some drawbacks, such as inconsistent customer service, high premiums, and low customer satisfaction ratings.

Policyholders should weigh the pros and cons of CFSIC before choosing it as their insurance partner.