Western World Insurance Company: History, Contacts, Services, Insurance Policies, Reviews and more

Western World Insurance Company is a leading provider of specialty insurance products and services for niche markets in the United States.

Founded in 1964, the company has a long history of underwriting expertise, profitability, and capital accumulation. Western World is part of the AIG Group, one of the world’s largest insurance organizations.

Western World Insurance Company
Western World Insurance Company | photo courtesy | Business Wire

 

In this article, we will explore the company’s background, team, products, policies, careers, financials, claims, and customer reviews.

About Western World Insurance Company

Western World Insurance Company was founded in 1964 to cater to underserved, high-risk markets.

Initially, as a surplus lines insurer, it provided general liability and property coverage for various businesses.

Over time, it expanded its offerings to include garage, professional liability, and commercial umbrella coverages.

Known for its underwriting expertise and innovative approach, Western World was a pioneer in online policy processes through its platform, WWIP.

In 2014, AIG, a global insurance leader with a century of experience in over 80 countries, welcomed the Western world into its fold, bolstering the company’s financial strength and support for customers and partners.

The Parent Company of Western World Insurance Company

Western World Insurance Company is wholly owned by Validus Holdings, Ltd., a Bermuda-based firm providing global reinsurance and insurance services.

Validus Holdings, Ltd. is a subsidiary of American International Group, Inc.

(AIG), a multinational insurance corporation headquartered in New York City.

The AIG is one of the world’s largest insurance organizations, serving over 90 million customers in 80+ countries.

AIG offers various insurance and financial services, with core businesses in General Insurance, Life & Retirement, and Investments.

Table of Team Members of Western World Insurance Company

Western World Insurance Company has a team of seasoned professionals dedicated to providing customized solutions for specialty insurance needs.

The company’s leadership team consists of the following members:

Name Title
Thomas F. Mulligan President & Chief Executive Officer
Robert J. Livingston Chief Operating Officer
John M. Rafferty Chief Financial Officer
Robert A. Gasser Chief Underwriting Officer
John M. O’Brien Chief Claims Officer
Michael J. Foley Chief Information Officer

Table of Contacts of Western World Insurance Company

Western World Insurance Company has offices in New Jersey, Georgia, Arizona, and California.

The company’s contact information is as follows:

Office Address Phone Fax
New Jersey (Headquarters) 300 Kimball Drive, Suite 500, Parsippany, NJ 07054 (973) 490-6800 (973) 490-6900
Georgia 1725 Windward Concourse Suite 320 Alpharetta GA 30005 (678) 393-4010 (678) 393-4020
Arizona 16427 North Scottsdale Road Suite 410 Scottsdale AZ 85254 (480) 596-7373 (480) 596-7374
California 100 Bayview Circle Suite 550 Newport Beach CA 92660 (949) 756-0271 (949) 756-2713

Services & Products of Western World Insurance Company

Western World Insurance Company offers a range of specialty insurance products and services for niche markets that require tailored coverage solutions.

The company’s products are distributed through select wholesale brokers and general agents who have access to its online platform, WWIP.

The company’s products are divided into three main categories:

  1. General Liability
  2. Commercial Property
  3. Garage.

General Liability

Western World’s General Liability products provide coverage for bodily injury and property damage arising from the insured’s premises or operations.

The company offers general liability coverage for various classes of business, such as:

  • Contractors
  • Manufacturers
  • Distributors
  • Restaurants

The company also offers professional liability coverage for certain professions, such as:

  • Architects & Engineers
  • Consultants
  • Home Inspectors
  • Real Estate Agents

In addition, the company offers commercial umbrella coverage for excess liability protection over the primary general liability and auto liability policies.

Commercial Property

Western World’s Commercial Property products provide coverage for physical loss or damage to buildings, business personal property, and business income.

The company offers commercial property coverage for various types of properties, such as:

  • Apartments
  • Condominiums
  • Office Buildings
  • Shopping Centers

The company also offers inland marine coverage for movable or specialized property, such as:

  • Contractors’ Equipment
  • Fine Arts
  • Jewelers’ Block
  • Motor Truck Cargo

Garage

Western World’s Garage products provide coverage for garage operations, including auto dealers, auto repair shops, auto service stations, and parking lots.

The company offers garage coverage for:

  • Garage Liability
  • Garagekeepers Legal Liability
  • Dealers Physical Damage
  • Auto Liability

Insurance Policies Offered by Western World Insurance Company

Western World Insurance Company tailors policies to meet customer needs, issued non-admittedly, granting flexibility in underwriting.

These policies are accessible via WWIP, simplifying rate, quote, and issuance for distribution partners.

They feature a minimum premium and deductible of $500, varying exclusions, and may be canceled for reasons like non-payment, misrepresentation, or risk changes.

Western World Insurance Company Careers

Western World Insurance Company seeks talented and motivated individuals who share its vision and values.

The company offers a rewarding and challenging work environment where employees can grow their skills and careers.

Surplus lines insurer also offers a competitive compensation and benefits package, which includes:

  • Medical, Dental, and Vision Insurance
  • Life and Disability Insurance
  • 401(k) Plan with Company Match
  • Employee Stock Purchase Plan
  • Paid Time Off

The company has various career opportunities in different areas, such as:

  • Underwriting
  • Claims
  • Finance
  • Information Technology
  • Marketing

The company encourages interested candidates to visit its website and apply online for the current openings.

Table of Financial Details of Western World Insurance Company

Western World Insurance has been a reliable company for many years.

Their finances are in good shape, even when things get tough in the economy.

They’ve made steady profits over time because they’re careful about the policies they sell and run things smoothly.

All of this means Western World can keep its promises to customers when bad luck strikes.

Overall, they have the money and smarts to stick around and pay claims.

The company’s financial details are as follows:

Year Total Assets Total Liabilities Policyholders’ Surplus Net Premiums Written Net Income
2020 $1,223,509,000 $726,284,000 $497,225,000 $378,920,000 $52,670,000
2019 $1,178,507,000 $699,424,000 $479,083,000 $366,879,000 $49,956,000
2018 $1,128,640,000 $671,161,000 $457,479,000 $344,143,000 $38,987,000

 

The company’s financial strength is also recognized by A.M. Best a leading rating agency that evaluates the financial condition and operating performance of insurance companies.

A.M. Best has assigned Surplus Lines Insurer an A (Excellent) rating with a stable outlook.

This rating indicates that the company has an excellent ability to meet its ongoing insurance obligations.

Claim Headquarters of Western World Insurance Company

Western World Insurance has an experienced claims team dedicated to helping our customers.

Its claims headquarters in Parsippany, New Jersey, house a department staffed by professionals committed to fair and fast service.

Whether it’s an auto, home, or commercial claim, our team handles everything.

Western takes the stress out of filing by guiding customers through the process from start to finish.

Experts from its network of adjusters and inspectors also lend a hand with complex or major claims.

The company claims specialists have decades of experience in the industry.

They understand what customers are going through during difficult times and work hard to make things right.

Customers can count on compassionate assistance and prompt claim resolutions from its Parsippany office.

The Company’s goal is to support customers however it can after an unexpected event.

Ways to claim with Western World Insurance Company

Online Submission Submit Online
Phone 1-888-847-8600
Fax Number 1-201-847-1780
Email Contact your Agent or Broker
Address MailSurplus lines insurer, 300 Kimball Drive, Parsippany, NJ 07054 Attn: New Claims

How to become a member of Western World Insurance Company

If you want to become a member of Western Surplus Lines, there are a few steps you’ll need to follow.

First, visit their website and navigate to the “Membership” section.

From there, you will be able to find the relevant information and forms to fill out.

Be sure to provide all the necessary documentation and information accurately and completely.

Once your application is reviewed and accepted, you will become a member of Surplus lines insurer.

What are Customers’ Reviews and Ratings of Western World Insurance Company?

 

Conclusion

Surplus lines insurer, a specialist in commercial and professional liability insurance, joined forces with global insurance giant AIG in 1964.

While it offers a range of services and products tailored to specific markets, its employee and customer reviews are mixed.

Some applaud the company’s benefits and work environment, while others express concerns about morale and management.

Financially, Western World has faced challenges in recent years, leading to a ratings downgrade by A.M. Best.

It’s essential to consider these factors when evaluating this insurer.

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