Amerisure Mutual Insurance Company · Farmington Hills, MI United States
Company Description
Phone: 248-615-9000
Fax: 248-615-8548
Toll Free: 800-257-1900
View Amerisure Mutual Insurance Company Locations On A US Map
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This link will open in a new window This company wants to help all businesses rest Amerisured. Amerisure provides a range of commercial property & casualty products; it specializes in workers' compensation programs, primarily for the manufacturing and contracting industries. Coverage includes general and employee benefits liability, property, auto, inland marine, and equipment insurance. The company operates out of about 10 offices in the southern and midwestern regions of the US; it also uses a network of independent agents to distribute its products. Amerisure was founded as Michigan Workmen's Compensation Mutual Insurance in 1912. To read the full description, subscribe now.
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Key Amerisure Mutual Insurance Company Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $430.8 |
| Employees | 700 |
Amerisure Mutual Insurance Company Executives
43 executives listed for Amerisure Mutual Insurance Company's Farmington Hills, MI location.
| Title | Name & Bio | Contact |
| Chairman | James Nicholson | Network |
| President and CEO | Richard Russell | Network |
| EVP and COO | Thomas Hoeg | Network |
Competition
Competitive Landscape for Amerisure Mutual Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Amerisure Mutual Insurance Company Competitors
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