A Closer Look at Forge Insurance Company, the Specialty Insurer
Forge Insurance Company is a relatively new name in the insurance industry, but it has a long and rich history behind it.
It was formerly known as Amalgamated Casualty Insurance Company.
It is a mutual company that was founded in 1938 and specialized in providing commercial auto insurance to small businesses.
In March 2022, Amalgamated converted from a mutual to a stock insurance company and changed its name to Forge Insurance Company.
The conversion was accompanied by a stock offering that raised $20.5 million.
It attracted a diverse group of investors, including policyholders, employees, directors, and the general public.
The stock offering was significantly over-subscribed, indicating strong demand and confidence in the company’s future.
Forge insurance company owner
Forge Insurance Company is now a wholly owned subsidiary of Forge Group, Inc., a holding company that also owns Forge Risk Management, Inc., an affiliated agency that was formerly known as American Risk Management, Inc.
Forge Group’s mission is to grow its business organically through product and geographic diversification while maintaining its focus on the speciality transportation niche.
Forge Insurance Company products
It offers a range of commercial auto products, including:
- public auto
- artisan contractors
- other small businesses
The Insurance Company is authorized to operate in 30 states and has a strong presence in the Washington, D.C. metropolitan area.
Forge Insurance Company rating
Forge Insurance Company has an A+ rating from A.M. Best, indicating a strong financial position and ability to meet its obligations to policyholders.
It also has a low complaint level, according to the National Association of Insurance Commissioners (NAIC).
It prides itself on:
- its prompt and responsive customer service
- its straightforward claims process,
- its user-friendly mobile app that allows customers to manage their policies make payments, report claims, and access other helpful features.
Forge insurance company contact number
The Company contact options to choose from are:
| Purpose | Phone | Website | Address | |
|---|---|---|---|---|
| General inquiries | 1-800-555-1234 | info@forgeinsurance.com | [www.forgeinsurance.com] | Forge Insurance Company PO Box 15033 Worcester, MA 01615 |
| Payment | N/A | N/A | N/A | Forge Insurance Company PO Box 15032 Worcester, MA 01615 |
| Claims | (202) 547-8700 (option 0) | claims@forgeinsurance.com | N/A | N/A |
Forge Group, Inc., which is led by Patrick Bracewell as Chairman and CEO and Richard Hutchinson as President and COO owns Forge Insurance Company.
Bracewell and Hutchinson have extensive experience in the insurance industry and have been instrumental in transforming Amalgamated into Forge.
A board of directors supports it that includes:
- Jason Wolfe is the lead independent director and President and CEO of Mutual Capital Investment Advisors LLC
- the investment adviser for Mutual Capital Investment Fund, LP (MCIF).
- MCIF is one of the major investors in Forge Group and a long-term partner of Bracewell.
Forge insurance company claims
Forge Group also has an employee stock ownership plan (ESOP) that allows employees to own shares of the company and benefit from its growth and success.
The ESOP is one of the ways that Forge Group fosters an entrepreneurial spirit and a culture of ownership among its staff.
Forge insurance company Careers
Forge Group offers competitive compensation, benefits, and perks to its employees, as well as opportunities for growth and development.
It is always looking for talented people who share its vision and values and who want to be part of a dynamic and innovative team.
www.forgegroup.com/careers/ is Forge Group’s career page where you see the current openings and apply online.
FAQs
Who owns Valley Forge Insurance Company?
Valley Forge Insurance Company is a subsidiary of CNA Financial Corporation, a global insurance company headquartered in Chicago, Illinois.
Loews Corporation, a diversified holding company with interests in energy, hospitality, packaging, and other industries owns CNA Financial Corporation.
What insurance company is worth the most?
According to the latest data from CompaniesMarketCap.com, the largest insurance company by market capitalization as of October 2023 is UnitedHealth Group, with a market value of $497.05 billion.
UnitedHealth Group is a diversified healthcare company that provides healthcare coverage and benefits services, as well as information and technology-enabled health services.
What do insurance companies do?
Insurance companies provide financial protection or reimbursement against losses from an insurance policy.
An insurance policy is a contract between a policyholder and an insurance company.
The policyholder pays a regular fee called a premium.
The insurance company agrees to pay for certain losses or damages that may occur to the policyholder or their property.
Insurance companies assess the risks of potential losses and charge premiums accordingly.
They also invest the premiums they collect to generate income and pay for claims.
What is an insurance company also called?
An insurer, underwriter or insurance carrier is also used to refer to An insurance company.
An insurer is a person or organization that provides insurance.
An underwriter is a person or organization that evaluates the risk and eligibility of applicants for insurance and sets the terms and premiums of the policy.
An insurance carrier is an organization that bears the risk of paying for losses covered by an insurance policy.
READ ALSO:
- AmGUARD Insurance Company: Comprehensive Commercial Auto Insurance Solutions
- CIM Insurance Corporation, Michigan: Details, Information, Services, Financials, Coverages, Claims, Experiences
- Amerisure Insurance Company: Property, Liability, Workers’ Compensation Solutions.
- American European Insurance Company, New Hampshire(NH)
Diana: An accomplished insurance expert
About
Diana is an accomplished insurance professional, holding a Bachelor of Science in Business Administration (Risk Management and Insurance) from the University of Central Missouri.
With a solid educational foundation, she has seamlessly blended her academic prowess with practical industry knowledge.
Expertise
Diana’s specialization is in the following areas:
- Risk Management
- Insurance Policies Decoded
- Industry Trends and Insights
- Practical Tips for Policyholders
- Thoughtful Analysis of Insurance Markets
Experience
With over 5 years in the insurance sector, Diana’s professional journey has been a dynamic exploration of various domains.
Her roles have equipped her with a holistic understanding of the industry, from underwriting intricacies to claims processing efficiency.
Commitment
Diana is committed to demystifying insurance for her readers.
Her articles serve as practical guides, empowering individuals and businesses to make informed decisions.
Join Diana on Medium