Rockingham Specialty, Inc. is a top-notch organization that focuses on special types of insurance. They handle coverage for property and casualty situations that are hard to find in regular insurance markets.
Started in 2018 as part of Rockingham Group, Inc., it’s now a leading provider of surplus lines insurance in the U.S.
History Of Rockingham Specialty, Inc.
- 2018: Rockingham Specialty becomes a part of Rockingham Group, Inc., an insurance company with a history dating back to 1869.
- 2019: They start underwriting policies, concentrating on unique markets like excess and surplus lines insurance for transportation, construction, and environmental risks.
- 2020: The company expands to cover special programs for vacant properties, recreational vehicles, and renewable energy projects.
- 2021: Rockingham Specialty gets an A- (Excellent) rating from A.M. Best, a big insurance rating agency.
- 2022: The company keeps growing and reaching more places.
- 2023: Rockingham Specialty hits its fifth anniversary, sticking to its goal of providing creative insurance solutions.
Rockingham Specialty, Inc. Mission
Rockingham Specialty’s mission is to work with other agencies to offer property and casualty insurance that regular insurance markets don’t have.
They’re all about finding solutions for tricky risks and markets that aren’t served well.
Rockingham Specialty, Inc. Values
Rockingham Specialty sticks to these important values:
- Financial Stability: They keep their money strong to make sure they can meet their promises to policyholders and reinsurers.
- Risk Management: They’re careful about managing risks, figuring them out, and making them smaller.
- Operational Excellence: Always trying to do better in how they work to be efficient and effective.
- Compliance: They follow all the laws and rules very strictly.
- Integrity and Ethics: Doing business with super high standards of honesty and ethics.
Rockingham Specialty, Inc. has become a big name in surplus lines insurance in the U.S. They’re successful because they stick to their mission and values, providing top-quality insurance solutions.
How to Reach Rockingham Specialty, Inc.
| Contact Information | Details |
|---|---|
| Website | Rockinghamspecialty,com |
| Phone | Main Office: (540) 564-8839 |
| Rockingham Specialty, Inc. 633 East Market Street, Harrisonburg, VA 22801 |
Filling Claims with Rockingham Specialty, Inc.
Rockingham Specialty, Inc. is a top provider of special insurance for risks that regular insurance might not cover.
If you need to claim a policy from Rockingham Specialty, here’s what you should do:
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Report the Claim
- Tell your managing general agent (MGA) or general agent (GA) about the claim right away. They’ll be your main contact and guide you through everything.
- Give lots of details about the claim, like when and where it happened, and what exactly went on.
- Collect all the papers you have about the claim, like police reports, medical records, and repair estimates.
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Submit the Claim Form
- Rockingham Specialty doesn’t have an online claim system, so you’ll need to send a claim form through your MGA or GA.
- The form will ask for info about the incident, your policy, and how to reach you.
- Make sure to fill out the form right and send it in quickly.
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Review and Processing
- Rockingham Specialty will look at your claim and might ask for more info or papers.
- They might assign someone to check out the claim and decide if it’s valid.
- This part can take a few weeks, depending on how complicated the claim is.
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Claim Decision
- Rockingham Specialty will tell you what they decided about the claim.
- If it’s approved, you’ll get paid for the losses covered by your policy.
- If they say no, you’ll get a reason why and you can appeal the decision.
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Appeal Process
- If you don’t agree with the decision, you can appeal it using Rockingham Specialty’s internal process.
- This might mean giving more info or asking for another review.
- For all the details on appealing, check your policy papers or ask your MGA or GA.
Claiming with Rockingham Specialty is a step-by-step process, and if you’re not happy with a decision, there’s a way to appeal it.
Just check your policy info or talk to your agent for more help.
What Services and Products Does Rockingham Specialty, Inc. Offer
Rockingham is your go-to for surplus line insurance. They focus on giving coverage for property and casualty risks that regular insurance might not cover. Here’s a quick look at what they offer:
Services
- Underwriting:
- Rockingham underwrites surplus lines policies for different industries, including:
- Construction: Covering things like contractor liability and property programs.
- Commercial: Dealing with general liability, property, and cyber liability.
- Transportation: Handling trucking liability and cargo coverage.
- Specialty: Covering unique risks like environmental liability and renewable energy.
- Rockingham underwrites surplus lines policies for different industries, including:
- Claims Management:
- They have a special team just for handling claims, from start to finish.
- Loss Control:
- Rockingham helps you prevent losses and manage risks better with their loss control services.
- Risk Management:
- They offer consulting services to help businesses figure out, understand, and lessen their risks.
Products
- Surplus Lines Property Insurance:
- Covers damage to buildings and physical stuff from things like fires, floods, or windstorms.
- Surplus Lines Casualty Insurance:
- Excess Lines Insurance:
- Gives extra coverage beyond what a regular policy covers.
- Specialty Programs:
- Rockingham has special insurance for specific risks, like vacant property, recreational vehicles, and renewable energy projects.
Ratings
Rockingham has received positive ratings from independent insurance rating agencies:
- A.M. Best: A- (Excellent)
- Financial Stability Rating: A (Excellent)
- Long-Term Issuer Credit Rating: “a”
These ratings reflect Rockingham’s strong financial position, experienced management team, and disciplined risk management practices.
Cancellations and Renewals of Policies with Rockingham Specialty, Inc.
Cancellation and renewal procedures for Rockingham policies differ from standard insurance due to their unique nature.
Cancellations
Initiated by Rockingham Specialty
- Non-payment of premiums: If a policyholder fails to pay their premiums by the due date, Rockingham has the right to cancel the policy.
- Misrepresentation or fraud: If Rockingham discovers that a policyholder has misrepresented information on their application or committed fraud, they can cancel the policy.
- Increased risk: If a policyholder’s risk profile changes significantly, Rockingham might cancel the policy.
- Non-compliance with policy terms: Failure to comply with the terms and conditions of the policy can also lead to cancellation.
Initiated by the Policyholder
- Policyholders can cancel their Rockingham policy at any time by providing written notice.
- Cancellation fees may apply, depending on the policy terms.
Renewal Process
Rockingham typically sends renewal notices to policyholders 30-60 days before the expiration date.
These notices will outline the new policy terms, including any changes in coverage or premium.
Policyholders options
- Renew the policy at the offered terms.
- Negotiate changes to the coverage or premium.
- Shop around for alternative quotes.
- Cancel the policy and not renew it.
Benefits of Joining Rockingham Specialty, Inc.
- Competitive rates: The company works with a network of reinsurers to obtain competitive rates for its policyholders.
- Flexible coverage options: Rockingham can tailor insurance policies to meet the specific needs of each business.
- Fast and efficient claims processing: The company’s claims team is dedicated to resolving claims quickly and fairly.
- Experienced and knowledgeable staff: Rockingham has a team of experienced underwriters, claims professionals, and risk management consultants who are committed to providing excellent customer service.
FAQs about Rockingham Specialty, Inc.
- Q: What does Rockingham Specialty, Inc. specialize in?
- A: Rockingham specializes in surplus lines insurance, providing coverage for property and casualty risks not typically covered by standard insurance.
- Q: What services does Rockingham Specialty, Inc. offer?
- A: Rockingham offers underwriting services across various industries, claims management, loss control to prevent losses, and risk management consulting to help businesses identify and mitigate risks.
- Q: What types of insurance products does Rockingham Specialty, Inc. provide?
- A: Rockingham offers surplus lines property insurance, surplus lines casualty insurance, excess lines insurance, and specialty programs designed for specific risks like vacant property, recreational vehicles, and renewable energy projects.
- Q: How does Rockingham Specialty, Inc. handle claims?
- A: Rockingham has a dedicated claims team that manages the entire claims process, from initial reporting to settlement, ensuring a comprehensive and efficient handling of claims.
Conclusions
Rockingham distinguishes itself as a prominent supplier of surplus lines insurance, providing distinct coverage for property and casualty risks that are typically overlooked by conventional insurance markets.
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