Richmond National Insurance Company, New Hampshire(NH)-Salary, Claims, Reviews, Am Best Rating, News, Glassdoor, Revenue

An image to Illustrate: Richmond National Insurance Company
Richmond National Insurance Company is a new player in the E&S market that has received rave reviews from its employees and brokers. Find out why/PHOTO COURTESY: Facebook

If you are looking for a speciality insurance company that can provide coverage for hard-to-place risks, you might want to check out Richmond National Insurance Company (RNIC).

RNIC is a new excess and surplus lines (E&S) insurer that was launched in October 2021 by Richmond National Group, Inc. (RNG), a start-up holding company based in Richmond, Virginia.

In this article, we will give you an overview of RNIC’s products, services, culture, and performance.

Richmond National Insurance Company Salary

According to Glassdoor, RNIC offers competitive salaries for its employees, ranging from $50,000 to $150,000 per year depending on the position and experience level.

RNIC also offers a generous bonus program based on individual and company performance.

Additionally, RNIC provides a comprehensive benefits package that includes:

  • health
  • dental
  • vision
  • life
  • disability
  • retirement plans

Richmond National Insurance Company claims

RNIC has a dedicated claims team that handles all aspects of the claims process, from initial reporting to final resolution.

RNIC’s claims professionals have years of experience and expertise in handling complex and challenging E&S claims.

Richmond National Insurance Company also leverages modern technology and data analytics to enhance its claims handling capabilities and outcomes.

RNIC’s claims philosophy is to be responsive, fair, and proactive in resolving claims for its insureds and brokers.

Richmond National Insurance Company reviews

RNIC has received positive reviews from its employees and business partners on Glassdoor.

Employees praise RNIC’s collaborative and entrepreneurial culture, supportive and experienced leadership, growth opportunities, and fun work environment.

Brokers appreciate RNIC’s swift response, creative solutions, outstanding service, and consistent capacity.

RNIC also has a high rating of 5.0 out of 5 on Diversity & Inclusion, which reflects its commitment to fostering a diverse and inclusive workplace.

Richmond National Insurance Company am best rating

 RNIC has received an A- (Excellent) financial strength rating and an “A-” issuer credit rating from A.M. Best Company.

These ratings indicate that RNIC has a strong ability to meet its ongoing insurance obligations and a strong capacity to meet its financial commitments.

The ratings also take into account RNIC’s:

  • risk-adjusted capitalization
  • conservative investment portfolio
  • comprehensive reinsurance program
  • clearly defined business plan
  • strong ERM framework

Richmond National Insurance News

RNIC has been making headlines since its launch in October 2021.

Some of the recent news and press releases about RNIC are:

  • In November 2021, RNIC appointed Ashlee Randall as the Chief Underwriting Officer. Randall has over 20 years of experience in the E&S industry and will oversee all underwriting operations and strategy for RNIC.
  • In May 2023, RNG announced that it would invest at least $175,000 to expand its headquarters in Henrico County, Virginia. The expansion is expected to create approximately 70 new jobs over the next three years.
  • In April 2023, RNIC’s Chief Legal and Compliance Officer David Vanalek spoke with AM Best TV on the legal environment for insurers and E&S exposures changing rapidly. Vanalek discussed how RNIC is adapting to the evolving regulatory landscape and market conditions.

Richmond National Insurance Glassdoor

Glassdoor is a website that provides insights into various companies based on employee reviews, salaries, interviews, benefits, and more.

As of November 2023, RNIC has 3 reviews on Glassdoor, all of which are positive and recommend working at RNIC.

RNIC also has 3 job openings on Glassdoor, which include positions for underwriters, actuaries, and IT professionals.

Richmond National Insurance Revenue

RNG does not disclose its revenue publicly as it is a private company.

However, according to its website, RNG is supported by over $70 million in equity capital from a group of investors including HF Capital, Bonhill Capital, WT Holdings and the senior management team.

RNG also states that it has adopted a disciplined approach to underwriting profitability and capital management.

Richmond insurance company

Richmond Insurance Company is not related to RNG or RNIC.

It is a property and casualty insurer based in Richmond Hill, Ontario.

It offers personal and commercial insurance products such as auto, home, business, farm, and liability insurance.

FAQs

Who is the CEO of Richmond National Insurance?

The CEO of Richmond National Insurance is Joe Kavanagh, who has over twenty-five years of corporate finance, merchant banking and financial advisory experience within the insurance industry.

He founded Richmond National in 2021 and leads the business as President and Chief Executive Officer.

Who is the owner of the National Insurance Company?

The owner of the National Insurance Company is the Ministry of Finance, Government of India.

National Insurance Company is an independent insurance company that was de-linked from its holding company, General Insurance Corporation of India, in 2002.

Where is the headquarters of National Insurance Company Limited?

The headquarters of National Insurance Company Limited is located in Kolkata, West Bengal, India.

It was incorporated in Kolkata on December 5, 1906, and has a network of about 2,000 offices across the country.

What is the NAIC number for Richmond National Insurance Company?

The NAIC number for Richmond National Insurance Company is 17103.

This is a unique identifier assigned by the National Association of Insurance Commissioners to each insurance company in the United States.

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