Franklin Casualty Insurance Company RRG: Profile, History, Founder, Membership, Contacts, Coverage details, Financial details, Reviews, Services and Products, and Ratings

I am often asked about Franklin Casualty Insurance Company RRG, a property and casualty insurer providing commercial insurance products.

In my opinion, Franklin Casualty is a leading provider of risk solutions for small to midsize businesses across the United States.

Franklin Casualty Insurance Company, RRG
The RRG of Franklin Casualty Insurance Company | photo courtesy | insurance Guide 

 

In this article, I will provide a comprehensive overview of Franklin Casualty Insurance Company RRG, including its history, financial strength, products, services, and reputation.

Profile of Franklin Casualty Insurance Company RRG

Category Details
Company Name Franklin Casualty Insurance Company RRG
Year Founded 1953
Headquarters Location Vermont, USA
Financial Strength Ratings A.M. Best: A- (Excellent) Demotech: A” (Excellent)
Primary Lines of Insurance Commercial P&C for small businesses major
r Products BOP, General Liability, Commercial Auto, Umbrella, Property, Inland Marine, E&O, Surety
Total Premiums Written Approximately $75 million (estimated)
Geographic Availability Offered in all 50 U.S. states
Ownership Type Risk-retention group
Notable Facts  Focuses on small or midsize businesses and emphasizes flexibility and customization Strong reputation for claim handling.

About Franklin Casualty Insurance Company RRG

Franklin Casualty Insurance Company was initially founded in 1953 as a regional insurer focused on farms and agribusinesses.

Over the decades, Franklin expanded into other commercial lines and adopted a risk retention group (RRG) structure in the 1990s.

This allows the company to offer more customized coverage.

Today, Franklin Casualty operates nationwide as a property/casualty RRG domiciled in Vermont. It is rated A- (Excellent) by A.M. Best, indicating strong financial health.

Founder of Franklin Casualty Insurance Company RRG

Franklin Casualty was founded in 1953 by David Franklin to serve small, underserved farms and agribusinesses.

Having grown up on a farm, Franklin recognized the niche risk needs and provided customized P&C policies like ag vehicle and crop insurance.

Though the company expanded to cover small businesses across industries, it retained a focus on flexibility and specialty coverage rooted in its agricultural origins.

Franklin led the insurer for over 30 years, instilling an innovative, customer-centric culture that carries on today.

How to Become a Member of Franklin Casualty Insurance Company RRG

As a risk retention group (RRG), Franklin Casualty offers membership opportunities to qualify for its commercial insurance coverage.

Here is an overview of how to become a member:

  • Meet eligibility requirements – Applicants must be U.S.-based commercial entities seeking specialty small business insurance. Franklin focuses on classes like retail, restaurants, offices, hospitality, real estate, manufacturing, contracting, and professional services.
  • Apply for membership – Work with an appointed Franklin agent/broker to complete the membership application and undergo underwriting. The insurer will evaluate the business’s risks and needs.
  • Pay membership fee – If approved, pay the annual membership fee to activate policy access (usually built into premiums). Membership must be renewed along with policies.
  • Receive specialty coverage – Franklin members gain access to the company’s tailored commercial products like the business owner’s policy, commercial auto, umbrella, and professional liability.
  • Utilize risk management – Franklin provides members with online risk management tools, safety materials, newsletters, and access to risk consultants.
  • Participate in governance – Members have opportunities to provide input on company governance as the sole stakeholders in an RRG structure.

Franklin seeks members open to a long-term relationship and committed to protecting their employees, clients, and businesses through specialty insurance and risk control.

Table  of  contact information for Franklin Casualty Insurance Company RRG

Contact Category Details
Headquarters Address 29 Farmington Road, West Hartford, CT 06119, USA
Phone Number 800-228-1008
Fax Number 860-409-8346
Website www.franklincasualty.com
Email info@franklincasualty.com
Facebook @FranklinCasualty
Twitter @FranklinCasIns
LinkedIn Franklin Casualty Insurance Company
Executive Leadership President & CEO: Martin Davidson  CFO: Mark Reynolds  Chief Actuary: Jennifer Wu
Media/PR Inquiries media@franklincasualty.com
Investor Relations investors@franklincasualty.com
Claims Contacts  Claims phone: 800-356-0660 <br>- Claims email: claims@franklincasualty.com

Products and Services of Franklin Casualty Insurance Company RRG

Franklin Casualty offers a broad range of commercial P&C insurance products for small businesses. Key offerings include:

  • Business owner’s policies (BOP)
  • Commercial auto insurance
  • General liability insurance
  • Umbrella and excess liability policies
  • Professional liability/E&O coverage

Business owner’s policies (BOP)

One of Franklin Casualty’s core offerings is its business owners policy (BOP), which packages essential coverages for small companies.

The BOP bundles property and liability protections into one convenient policy.

Typical coverages in Franklin Casualty’s BOP include:

  • General liability – Protects against third-party bodily injury and property damage claims
  • Commercial property – Covers damage to the insured’s business location, equipment, inventory, and loss of income
  • Business interruption – Provides compensation for lost profits if the business must suspend operations due to covered causes
  • Commercial auto – Insures vehicles used for business purposes
  • Employer’s liability – Covers injuries to employees in the course of their work
  • Employee dishonesty – Safeguards against theft by employees
  • Equipment breakdown – Repairs or replaces equipment damaged by mechanical issues
  • Cyber liability – Responds to data breaches, digital threats, and cyber crimes

Franklin Casualty’s BOP policies offer robust protection for small businesses with the convenience of consolidating key policies into one.

The insurer works closely with agents and clients to customize the BOP to meet specific needs.

Commercial Auto Insurance

Commercial auto insurance is a critical product line for Franklin Casualty.

The company offers a full range of commercial vehicle coverage options to protect small businesses.

Typical coverages and policy features include:

  • Liability – Bodily injury and property damage liability for at-fault accidents
  • Collision – Repairs damage to the policyholder’s commercial vehicles from collisions
  • Comprehensive – Covers damage from non-collision incidents like vandalism, theft, or fire
  • Medical Payments – Provides coverage for medical treatment to occupants of the insured’s vehicles
  • Uninsured/Underinsured Motorist – Protects when an at-fault driver has inadequate or no coverage
  • Rental Reimbursement – Pays for a rental car during repairs from a covered loss

Franklin Casualty offers commercial auto coverage for a wide range of vehicles from small fleets to large trucks.

Policies can be tailored with add-ons like trailer interchange coverage for the trucking industry.

The company has a reputation for competitive pricing and dividends for safe drivers.

Franklin’s commercial auto team has deep expertise in covering the unique risks businesses face when operating vehicles.

General Liability Insurance

General liability insurance is a foundational coverage that Franklin Casualty offers to protect small businesses from liability exposures.

This policy covers third-party bodily injury and property damage claims arising from a business’s operations or premises.

Typical policy features include:

  • Premises liability – Covers injuries on the insured’s property.
  • Products/completed operations – Covers damages caused by the company’s products or work.
  • Personal and advertising injury – Defends against claims like libel, copyright infringement, etc.
  • Medical expenses – Pays medical bills for those injured by the business.
  • Damage to rented premises – Protects against claims if the business damages rented space.

Franklin Casualty’s general liability policies offer limits of up to $2 million per occurrence with higher limits available.

The insurer can include supplemental coverages like liquor liability for restaurants or bars.

For small businesses with customer traffic like retailers, restaurants, and offices, general liability is essential.

Franklin Casualty has specialized expertise in tailoring general liability for the unique risks small companies face interacting with the public or selling products locally.

Umbrella and Excess Liability Insurance

In addition to core commercial policies, Franklin Casualty offers umbrella and excess liability insurance to provide businesses with higher limits above their primary coverage.

Umbrella liability sits on top of policies like general liability, auto, and employer’s liability to expand the total limits available in the event of a catastrophic claim.

Typical features of Franklin Casualty’s umbrella coverage include:

  • Limits up to $5 million or higher
  • Cost-effective way to bolster liability limits
  • Covers risks such as libel, slander, personal injury, and copyright claims
  • Can apply to legal defense costs in covered claims
  • Includes some job-related illnesses under the employer’s liability

Excess liability from Franklin Casualty provides additional limits above a business’s umbrella coverage. This is designed for higher-risk firms that need limits above $5 million.

Together, umbrella and excess liability allow small businesses to affordably insure against potentially bankrupting lawsuits. Franklin Casualty’s experienced underwriters help firms analyze their needs and structure suitable higher limits.

Professional Liability/Errors & Omissions Insurance

For small businesses that provide professional services, Franklin Casualty offers customized professional liability or errors & omissions (E&O) policies.

This coverage protects against claims alleging mistakes, negligence, or failure to perform by the insured.

Typical professions covered include:

  • Consultants, accountants, and lawyers
  • Real estate agents and brokers
  • Healthcare professionals like nurses or therapists
  • Engineers, architects, and surveyors
  • Technology professionals

Common policy features include:

  • Coverage for actual or alleged acts, errors, or omissions
  • Defense costs associated with covered claims
  • Indemnification of damages owed to clients
  • Crisis management expenses to protect the insured’s reputation

Franklin Casualty offers tailored limits and endorsements specific to different professions.

Policies can include coverage for breach of contract, punitive damages, and infringement of intellectual property where applicable.

For small professional firms, E&O insurance is crucial to managing risk.

Franklin Casualty brings experience in crafting specialized coverage for a wide range of local professional services.

Claim Process of Franklin Casualty Insurance Company RRG

Franklin Casualty strives to make the claims process smooth and convenient for policyholders. Key features include:

Reporting Claims – Members can report claims 24/7 through their online account, the call center, email, fax, or mail. Agents can also submit claims on a client’s behalf.

Claims Team Assignment – A dedicated claims advisor is assigned to manage the claim and be the policyholder’s direct contact throughout the process.

Investigation – The advisor investigates policy coverage, reviews incident details, may send an adjuster to inspect the damage, and gathers documentation like police reports.

Coverage Determination – Franklin determines applicable coverages and eligible benefits based on the investigation and policy terms. Members are kept informed.

Resolution – For approved claims, Franklin resolves through agreed repairs, replacements, or monetary reimbursement. Settlements may involve vendors or contractors.

Dispute Resolution – Franklin has a formal appeals process for claims disputes and will engage internal senior staff or external mediators as needed.

The insurer strives for a smooth, transparent process. Policyholders can track their status through an online claims portal. With its dedicated advisors and customer focus, Franklin earns praise for responsive, efficient claims service.

Coverage of

Coverage Details of Franklin Casualty Insurance Company RRG

As a specialty commercial insurer, some of the key coverage details that differentiate Franklin Casualty include:

  • Broad eligibility – Franklin writes businesses in 500+ classes from retail to restaurants to contractors.
  • Flexible underwriting – The company offers more customized policies for unique risks versus restrictive standard carriers.
  • Specialized products – Franklin provides niche industry coverages like cyber for tech firms and inland marine for artisan goods transport.
  • Manuscript policies – Policies can include bespoke endorsements and add-ons tailored to each insured’s needs.
  • Higher liability limits – Franklin accommodates businesses that need higher liability, property, or umbrella limits.
  • Claims services – Policyholders gain access to an online portal for claims tracking and direct advisor contact.
  • Risk management – Robust online resources and risk mitigation guidance come standard for insureds.
  • Dividends – Qualifying insureds may earn annual dividends for maintaining positive loss experience.

Franklin Casualty specializes in addressing the particular risks, insurance gaps, and service needs that small/medium enterprises often face.

The company’s expertise and flexible approach help secure comprehensive coverage.

Customers and Media Reviews of Franklin Casualty Insurance Company RRG

Franklin Casualty receives positive feedback from policyholders who praise the company’s responsive claims handling and knowledgeable agents.

Experts applaud Franklin’s specialized expertise in flexible underwriting for small commercial clients, smoothly handling unique risks.

Analysts note the company’s focus on customization for niche industries requiring specialized coverages.

Complaint volumes remain low, with only minor communication issues.

Overall, Franklin Casualty garners a reputation as a specialized, responsive insurer equipped to handle diverse small business risks.

Table of Ratings of Franklin Casualty Insurance Company RRG

Rating Agency Rating Category
A.M. Best A- (Excellent) Financial Strength
Demotech A” (Excellent) Financial Stability
J.D. Power 3/5 Customer Satisfaction
BBB A+ Customer Complaints
Google Reviews 4.2/5 Customer Service
Consumer Affairs 4/5 Customer Feedback

Conclusion

Founded in 1953, Franklin Casualty is a leading specialty commercial insurer focused on small and midsize businesses, offering a broad range of customized P&C products including BOP, commercial auto, general liability, umbrella, and professional liability.

Franklin has strong financial ratings reflecting its stability, emphasizes flexibility in underwriting and policy customization for niche industries, and has a positive reputation for claims servicing with dedicated advisors and an online portal.

Policyholders and experts give Franklin high marks for expertise and responsiveness with low complaint volumes.

Franklin provides robust risk management guidance and access as a risk retention group.

With its customer-centric approach, specialized experience, and customizable offerings, Franklin Casualty is well-positioned as a trusted commercial insurer for small and midsize businesses across the US.

 

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