Transverse Specialty Insurance Company(Delaware); Overtime, Contacts, Claims, Services, Ratings, and Benefits

Transverse Specialty Insurance Company offers specialized insurance solutions for various industries like energy, property, casualty, healthcare, and professional liability.

It is a key player in the insurance sector and is fully owned by MS&AD Insurance Group Holdings, a global insurance giant. With its headquarters in Wilmington, Delaware, the company also has offices in Dallas, Texas, and Indianapolis.

Transverse Specialty Insurance Company

Mission and Values

Transverse Specialty Insurance Company aims to lead in providing specialty insurance solutions. We focus on delivering outstanding service, creating innovative products, and offering unmatched expertise to our clients, partners, and communities.

Our values drive our culture and decision-making:

  1. Client Focus: We dedicate ourselves to understanding and meeting our clients’ unique needs.
  2. Innovation: We continuously work towards developing new and inventive insurance solutions.
  3. Expertise: We possess a deep understanding of the industries we serve.
  4. Partnership: We highly value our relationships with brokers, managing general agents (MGAs), and reinsurers.
  5. Integrity: We are unwavering in our commitment to the highest ethical standards.
  6. Community: We actively contribute to the well-being of the communities where we live and work.

Contact Details of Transverse Specialty Insurance Company

Company Name Transverse Specialty Insurance Company
Address 155 Village Boulevard, Suite 205, Wilmington, DE 19803
Phone 609-250-7841
Website https://www.crunchbase.com/organization/transverse-insurance-group

 

Products and Services Offered by Transverse Specialty Insurance Company

Transverse Specialty Insurance Company provides diverse specialty insurance products, including:

  1. Excess and Surplus (E&S) Insurance: This type of insurance covers risks deemed too high for standard insurance companies.
  2. Program Business: Tailored for specific industries or groups, program business insurance meets their unique needs.
  3. Fronting Solutions: Businesses can self-insure risks while enjoying traditional insurance benefits like risk management and claims handling.
Industries Served
  1. Energy: Coverage extends to various energy risks such as oil and gas, power generation, and renewable energy.
  2. Property and Casualty: The company offers a range of products, including commercial property, general liability, and workers’ compensation.
  3. Healthcare: Coverage spans healthcare risks like medical malpractice, long-term care, and cyber liability.
  4. Professional Liability: Transverse Specialty Insurance Company provides various professional liability products, including directors and officers (D&O) insurance, errors and omissions (E&O) insurance, and cyber liability insurance.

Transverse Specialty Insurance Company

Transverse Specialty Insurance Company’s Premium Costs

Transverse Specialty Insurance Company determines policy premiums based on factors like insurance type, policy limits, the insured’s risk profile, and their loss history.

Despite these variations, the company is generally recognized as a competitive specialty insurance provider.

Payment Options

For policyholders’ convenience, Transverse Specialty Insurance Company offers flexible payment schedules, allowing monthly, quarterly, semi-annual, and annual payments.

The company also provides various financing options for policies.

Discounts

The company extends several discounts, considering factors like good credit, loss history, and safety measures. Additionally, discounts are available for bundling multiple policies together.

Promotional Offers

Occasionally, Transverse Specialty Insurance Company introduces promotional offers on its policies, which may include discounts, premium credits, or other incentives.

Getting a Quote

To obtain a quote from Transverse Specialty Insurance Company, individuals can directly contact the company or use an independent insurance agent.

The company will request information about the business or organization to assess the risk profile and determine the appropriate premium for the policy.

Ratings

Transverse Specialty Insurance Company provides a variety of insurance products to businesses and individuals. The company holds an A- (Excellent) Financial Strength Rating (FSR) from AM Best, a leading credit rating agency in the insurance industry.

The company received positive ratings from several sources:

  • AM Best: A- (Excellent)
  • Standard & Poor’s: A- (Excellent)
  • Fitch Ratings: A- (Excellent)

Reviews

Transverse Specialty Insurance Company earned positive reviews for:

Complaints

While receiving some customer complaints, Transverse Specialty Insurance has a record of promptly and fairly resolving issues.

In 2022, the National Association of Insurance Commissioners (NAIC) received 10 complaints, with 9 resolved in favor of the policyholder.

Resolutions

The company is dedicated to resolving complaints efficiently. Trained customer service representatives handle issues, and there’s a complaint escalation process to ensure proper handling of all complaints.

Transverse Specialty Insurance Company

Cancellations

Transverse Specialty Insurance maintains a cancellation rate of around 10%, aligning with industry standards. However, this rate varies based on factors like insurance type, policy limits, and the insured’s risk profile.

Policyholders may cancel for reasons such as:

  1. No longer needing coverage, e.g., a business closing.
  2. Finding a better rate elsewhere.
  3. Dissatisfaction with Transverse Specialty Insurance Company’s service.

Renewals

The company boasts a renewal rate of approximately 90%, exceeding industry averages. This indicates that a significant majority of policyholders choose to renew.

Reasons for renewal may include:

  1. Satisfaction with coverage.
  2. Appreciation for customer service.
  3. Inability to secure a better rate elsewhere.

Joining Transverse Specialty Insurance Company

  1. Competitive Compensation and Benefits: Transverse Specialty Insurance offers competitive compensation and benefits. This includes health, dental, and vision insurance, along with life and disability coverage. Employees also enjoy paid time off and a 401(k) retirement plan with matching contributions.
  2. Opportunities for Advancement: As a growing company, Transverse Specialty Insurance prioritizes employee development. Opportunities for advancement exist within and across departments. The company supports employees in pursuing professional growth, providing financial assistance for such opportunities.
  3. Culture of Collaboration and Innovation: Transverse Specialty Insurance fosters a culture of collaboration and innovation. Employees are encouraged to share ideas and collaborate in problem-solving. The company invests in research and development, constantly seeking ways to enhance its products and services.
  4. Community Involvement: Transverse Specialty Insurance actively gives back to local communities. Employees are encouraged to volunteer their time and skills to local organizations, and the company makes financial contributions to various charitable causes.

FAQ’S

1. What types of insurance does Transverse Specialty Insurance offer?

Transverse Specialty Insurance offers a range of specialty insurance products, including Excess and Surplus (E&S) Insurance, Program Business, and Fronting Solutions.

2. How is Transverse Specialty Insurance rated by credit rating agencies?

Transverse Specialty Insurance holds an A- (Excellent) Financial Strength Rating (FSR) from AM Best, showcasing its strong financial stability.

3. What payment options are available for customers?

Policyholders can choose from various payment options, including monthly, quarterly, semi-annual, and annual payments. The company also provides financing options.

4. How does Transverse Specialty Insurance Company handle policy cancellations?

The rate of stopping policies is about 10%, similar to what other companies usually see. People might cancel if they need different coverage, find lower prices elsewhere, or aren’t happy with how the company serves them.

5. What are the benefits of joining Transverse Specialty Insurance as an employee?

Joining Transverse Specialty Insurance means receiving fair pay and benefits, chances to grow, a work environment that encourages teamwork and new ideas, a dedication to different backgrounds making everyone feel included, and being part of community activities.

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