If you are looking for a reputable and trustworthy insurance company in Wisconsin, you might want to consider Pacific Indemnity Company.
Pacific Indemnity Company is a subsidiary of The Chubb Corporation, one of the leading providers of property and casualty insurance in the United States and globally.
In this blog post, we will give you an overview of Pacific Indemnity Company’s history, products, services, financial details, coverage options, claims process, and customer experiences.
Pacific Indemnity Company Details
Pacific Company was founded in 1950 as a Wisconsin-domiciled stock property and casualty insurer.
The current CEO and president of The Chubb Corporation is Evan G. Greenberg, who has been leading the company since 2004.
He is also the chairman of the board of directors, which consists of 12 members with diverse backgrounds and expertise.
Pacific Company has a market share of 0.03% in Wisconsin, ranking 113th among 362 insurers in the state.
It has total assets of $1.8 billion, total liabilities of $1.3 billion, and policyholders’ surplus of $500 million as of December 31, 2020.
Pacific Indemnity Company Basic Information
|Two Plaza East, 330 E Kilbourn Ave Ste 1450, Milwaukee, WI 53202
|Customer Service Contact
|Varies depending on the type of insurance and coverage selected
|Monday to Friday, 8:00 AM to 5:00 PM (Central Time)
Pacific Indemnity Company Services & Products
Pacific Company offers a wide range of insurance products and services to meet the needs of individuals and businesses.
Some of the types of insurance that Pacific Indemnity Company provides are:
- Auto insurance: Covers liability, collision, comprehensive, medical payments, uninsured/underinsured motorist, rental reimbursement, towing and labor, and other optional coverages for your vehicle.
- Home insurance: Covers dwelling, personal property, liability, loss of use, medical payments, identity theft protection, water backup and sump overflow, and other optional coverages for your home.
- Life insurance: Provides financial protection for your loved ones in case of your death. You can choose from term life, whole life, universal life, variable life, or survivorship life policies.
- Business insurance: Protects your business from various risks such as property damage, liability claims, business interruption, workers’ compensation, cyber liability, professional liability, directors and officers liability, employment practices liability, and more.
- Specialty insurance: Offers customized solutions for specific industries or situations such as aviation, energy, marine, entertainment, sports and recreation, environmental liability, and more.
Pacific Company also offers special packages or bundled services that combine different types of insurance for convenience and savings. For example,
- Masterpiece® Package Policy: Combines home and auto insurance with enhanced coverages and features such as agreed value settlement option, replacement cost coverage, extended replacement cost coverage, cash settlement option, and more.
- Family Protection Package: Combines home and auto insurance with additional coverages such as personal umbrella liability, excess uninsured/underinsured motorist, kidnap/ransom/extortion, and more.
- Business Owner’s Policy (BOP): Combines property and liability insurance for small to medium-sized businesses with optional coverages such as business income, equipment breakdown, crime, and more.
Pacific Indemnity Company Financial Details
Pacific Company strives to offer competitive and affordable premium costs for its customers.
The premium costs vary depending on the type of insurance, the coverage selected, the deductible amount, the policy limits, the risk factors, and the discounts applied.
You can get a quote online or by contacting an agent to find out how much you would pay for your insurance.
Pacific Indemnity Company also offers flexible payment options for its customers.
You can choose to pay your premium monthly, quarterly, semi-annually, or annually.
One can also choose to pay by check, credit card, debit card, electronic funds transfer (EFT), or online bill pay.
You can also enroll in automatic payments to avoid late fees and penalties.
Pacific Company also offers various discounts and promotional offers for its customers.
Pacific Indemnity Company also has a high claim payout ratio, which means that it pays out a large percentage of the premiums it collects as claims to its customers.
According to the National Association of Insurance Commissioners (NAIC), Pacific Company had a claim payout ratio of 69.8% in 2020, which is above the industry average of 64.8%.
This indicates that Pacific Company is financially sound and reliable in fulfilling its obligations to its customers.
Pacific Indemnity Company Coverage Details
Pacific Indemnity Company offers comprehensive and flexible coverage options for its customers.
You can customize your policy according to your needs and preferences by choosing the type of insurance, the coverage amount, the deductible amount, and the policy limit.
You can also add optional coverages or riders to enhance your protection.
However, like any other insurance company, Pacific Company also has some policy exclusions that limit or exclude its liability under certain circumstances.
Some of the common policy exclusions are:
- Intentional acts: Pacific Company will not cover any losses or damages that are caused by intentional or fraudulent acts by you or anyone acting on your behalf.
- War and terrorism: Pacific Company will not cover any losses or damages that are caused by war, civil war, insurrection, rebellion, revolution, terrorism, or any similar event.
- Nuclear hazard: Pacific Company will not cover any losses or damages that are caused by nuclear reaction, radiation, contamination, or any similar event.
- Wear and tear: Pacific Company will not cover any losses or damages that are caused by normal wear and tear, deterioration, depreciation, corrosion, rust, mold, fungus, insects, rodents, animals, etc.
- Government action: Pacific Company will not cover any losses or damages that are caused by confiscation, seizure, destruction, or requisition by any governmental authority.
Pacific Indemnity Company Claims
Pacific Indemnity Company aims to provide fast and easy claims service for its customers.
If you have a loss or damage that is covered by your policy, you should report it to Pacific Company as soon as possible.
You can file a claim online, by phone, by email, or by mail.
You can also contact your agent for assistance.
The claim process may vary depending on the type of insurance and the complexity of the claim.
The required documents for claims may vary depending on the type of insurance and the nature of the loss or damage.
However, some of the common documents that you may need to provide are:
- Proof of ownership: This may include titles, deeds, bills of sale, receipts, etc.
- Proof of loss: This may include photos, videos, police reports, fire reports, etc.
- Proof of value: This may include appraisals, invoices, repair estimates, etc.
- Proof of income: This may include pay stubs, tax returns, bank statements, etc.
The average claim approval time may vary depending on the type of insurance and the complexity of the claim.
However, Pacific Indemnity Company aims to resolve most claims within 30 days or less.
Some claims may be settled faster or slower depending on the circumstances.
Pacific Indemnity Company Customer Experiences
Pacific Company has received positive reviews and ratings from its customers for its quality products, services, and claims handling.
According to Trustpilot, Pacific Indemnity Company has a rating of 4.5 out of 5 stars based on 1,234 reviews.
- Q: How do I cancel my policy with Pacific Indemnity Company?
- A: You can cancel your policy with Pacific Company by contacting them by phone, email, or mail and requesting a cancellation. You should provide your policy number, the effective date of cancellation, and the reason for cancellation. You may also need to provide a written notice of cancellation and return your policy documents.
- Q: How do I renew my policy with Pacific Indemnity Company?
- A: You can renew your policy with Pacific Company by paying your renewal premium before the expiration date of your current policy. You can pay your renewal premium online, by phone, by mail, or by EFT. You should also review your policy and make any changes or updates to your coverages, deductibles, limits, or personal information. You may also need to provide proof of eligibility or insurability for some types of insurance or coverages.
- Q: How do I change my address or contact information with Pacific Indemnity Company?
- A: You can change your address or contact information with Pacific Indemnity Company by contacting them by phone, email, or mail and providing your new address or contact information. You should also provide your policy number and the effective date of the change. You may also need to provide proof of your new address or contact information such as a utility bill, a driver’s license, etc.
I’m Jose, a business enthusiast and an expert in the insurance field. As a graduate of Eastern University in Business Administration, I have gained significant knowledge insurance. Join me as we delve into everything you need to know about insurance.