Federated Specialty Insurance Company is a newly formed specialty insurer that focuses on U.S. excess and surplus lines accounts.
It is a wholly-owned subsidiary of Federated Mutual Insurance Company, a direct writer of property and casualty insurance products headquartered in Owatonna, Minnesota.
In this article, we will review the history, products, ratings, and financial performance of Federated Specialty Insurance Company and its parent company.
Who is the CEO of Federated Insurance?
The CEO of Federated Insurance is Michael G. Kerr, who has been in this position since January 1, 2009.
He is also the president and chief operating officer of the company.
Michael G. Kerr joined Federated Insurance in 1981 as a marketing development trainee
He is a graduate of Central Michigan University with a degree in business administration
Is Federated a captive insurance company?
Federated Insurance is not a captive insurance company, but it does have a relationship with Federated, Ltd., a heterogeneous member-owned group captive that provides insurance solutions for various industries, such as equipment dealers, auto dealers, petroleum marketers, and contractors2.
Federated Insurance provides reinsurance and administrative services to Federated, Ltd. and its members.
What is the rating of Federated National Insurance Company?
Federated National Insurance Company is a regional insurance company that offers home insurance, flood insurance, and umbrella insurance to individuals in Florida and five other states.
Federated National Insurance Company has an A+ rating from the Better Business Bureau, but it is not rated by A.M. Best, a credit rating agency that evaluates the financial strength and performance of insurance companies.
What is the revenue of federated insurance?
According to its 2020 annual report, Federated Insurance had a total revenue of $2.6 billion, which was a 3.6% increase from 2019.
The company’s net income was $223 million, which was a 14.4% decrease from 2019.
Federated Insurance’s total assets were $10.9 billion, and its policyholders’ surplus was $2.8 billion.
The company’s combined ratio, which measures the profitability of its underwriting operations, was 95.7%, which means that it spent 95.7 cents for every dollar of premium it collected.
Federated Mutual Insurance Company phone number
The phone number for Federated Mutual Insurance Company’s home office is 507-455-5200 or 800-533-0472.
The company also has several service offices located throughout the country, which can be found on its website.
The company’s customer service hours are Monday to Friday, 7:00 a.m. to 6:00 p.m. Central Time.
Federated Mutual Insurance Company claims phone number
The phone number for Federated Mutual Insurance Company’s claims department is 888-333-4949.
The company also offers online claims reporting, which can be accessed through its website.
The company’s claims service is available 24/7/365.
Federated Mutual Insurance Company Subsidiaries
Federated Mutual Insurance Company has three main subsidiaries:
- Federated Service Insurance Company
- Federated Reserve Insurance Company
- Â Granite Re, Inc.
These subsidiaries share the same ratings and financial strength as Federated Mutual Insurance Company.
Federated Mutual Insurance Company also owns Federated Life Insurance Company, which offers life and disability insurance products
Federated Insurance headquarters
They are located at 121 East Park Square, Owatonna, MN 55060-3046.
The company has been based in Owatonna since its founding in 1904.
The company’s headquarters include an executive office building, a learning center, a conference center, and a wellness center8.
Federated Insurance reviews
Federated Insurance has received mixed reviews from its customers and employees.
On Glassdoor, the company has a 4.1 out of 5 stars rating, based on over 278 reviews left anonymously by employees.
74% of employees would recommend working at Federated Insurance to a friend and 89% approve of the CEO.
On Clearsurance, the company has a 3.9 out of 5 stars rating, based on over 1,000 reviews left by customers.
77% of customers would renew their policy with Federated Insurance and 69% would recommend it to others.
Federated Mutual Insurance Company address
The address for Federated Mutual Insurance Company’s home office is 121 East Park Square, Owatonna, MN 55060-3046.
The company also has several service offices throughout the country, which can be found on its website.
Federated Insurance Lawsuit
In 2019, Federated Insurance was sued by a former employee who alleged that the company discriminated against him based on his age and disability.
The lawsuit also alleges that the company has a pattern and practice of discriminating against older and disabled workers.
The case is pending in the U.S. District Court for the District of Minnesota
Federated National Insurance
It is a regional insurance company that offers home insurance, flood insurance, and umbrella insurance to individuals in Florida and five other states.
Federated National Insurance has an A+ rating from the Better Business Bureau,
Conclusion
It is a wholly-owned subsidiary of Federated Mutual Insurance Company, a direct writer of property and casualty insurance products headquartered in Owatonna, Minnesota.
Federated Insurance has been in business for over a century, offering comprehensive and customizable insurance solutions for businesses and individuals.
The company has an A+ rating from the Better Business Bureau and an A+ rating from A.M. Best.
The company provides a wide range of specialized insurance coverages, including commercial auto, workers’ compensation, liability, property, and umbrella insurance.
The company also has a relationship with Federated, Ltd., a heterogeneous member-owned group captive that provides insurance solutions for various industries.
Federated Insurance has received mixed reviews from its customers and employees, and it has faced a lawsuit from a former employee who alleged discrimination.
Federated National Insurance is a regional insurance company that offers home insurance, flood insurance, and umbrella insurance to individuals in Florida and five other states.
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