From the May 2, 2011 issue of National Underwriter Property & Casualty • Subscribe!

Zurich, Chubb Voted Best In Class By Risk Managers

FM Global favored in a number of key categories; Chartis, too, scores well

From a choice of more than 50 providers, Zurich and the Chubb Group of Insurance Cos. were named as the number 1 and 2 overall favorites of insurance buyers in the annual “Risk Manager Choice Awards” in the “best overall” insurance companies category.

Zurich was first choice, with a 42.2 score, just edging out second-place Chubb, which came in at 42.

Chartis came in third with a 35.9 tally. Travelers placed fourth at 33, with FM Global coming in fifth at 32.8 percent.

The results are based on a survey of 364 insurance buyers by the Flaspöhler Research Group, in partnership with NU.

FM Global Scores High Marks

In a section of the survey that rated “evaluation and selection factors” used by risk managers to choose their carriers, Johnston, R.I.-based FM Global fared exceptionally well, topping the list in six of the seven categories (see chart on page 27). The company scored an impressive 7.97 out of nine points for Underwriting Capabilities (Lloyd’s was second at 7.82) and 7.74 for Financial Value (Chubb was second at 7.40).

Interestingly, in these troubled financial times, when risk managers are so mindful of the financial stability of their carriers, this year Berkshire Hathaway was rated first for “financial security,” with 8.30 out of nine points. FM Global was second with 8.14 points.

LINES OF BUSINESS

Risk managers were asked to rank carriers for 14 lines of business (see chart). Carrier FM Global, which specializes in commercial property coverage, came in first for business interruption at 54.5, with Zurich second at 23.9.

FM Global also led in property coverage with a 50.2 score. Zurich was second at 20.7.

Related Charts -

Relationship Status

Line Of Business Favorites

Evaluation/Selection Criteria Ratings

Premium Partners: For What Would You Pay More?

Comments

Resource Center

View All »

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Get $100 in leads with $0 down!

NetQuote's detailed, real-time leads have boosted sales for thousands of successful local agents across the...

The Growing Role of Excess & Surplus Lines in Today’s...

The excess and surplus market (E&S) provides coverage when standard insurance carriers cannot or will...

Increase Sales Conversion with this Complimentary White Paper

This whitepaper will share proven techniques - used by many of the industry's top producers...

D&O Policy Definitions: Don't Overlook These Critical Terms

Unlike other forms of insurance where standard policy language prevails, with D&O policies, even seemingly...

Environmental Risk: Lessons Learned from Willy Wonka and the Chocolate...

Whether it’s a chocolate factory or an industrial wastewater treatment facility, cleanup and impacts to...

More Data, Earlier: The Value of Incorporating Data and Analytics...

Incorporating more data earlier in claims lifecycles can help you reduce severity payments by 25%*...

How Many Of Your Clients Are At Risk Of Flood?

Every home is vulnerable to flooding. Learn four compelling reasons why discussing flood insurance with...

Gauging your Business Intelligence Analytics Capabilities and the Impact of...

Big Data, Data Lakes and Data Swamps, How to gauge your company's Big Data readiness....

Extending Contact Center Capabilities Across the Insurance Enterprise

Today advancements in technology are making a big impact on business and society. To yield...

Risk Management Report eNewsletter

Identify problems involving emerging risks, reinsurance, and business interruption with help from Risk Management Report - FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.