Fireman's Fund Insurance Company · Novato, CA United States
Company Description
Phone: 415-899-2000
Fax: 415-899-3600
Toll Free: 800-227-1700
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This link will open in a new window Firemen still appreciate Fireman's Fund Insurance. The property/casualty insurer sells commercial insurance for small and midsized businesses and personal lines focused on wealthy individuals. Its commercial products include ordinary specialty insurance such as professional liability insurance, as well as truly niche coverage to protect vineyards and wineries from crop damage and shipping mishaps. Founded in 1863, the company is named for a now-defunct arrangement that saw 10% of its profits supporting widows and orphans of firefighters. These days the Fireman's Fund Heritage program provides grants for equipment and training to fire departments. Fireman's Fund is a subsidiary of German insurer Allianz . To read the full description, subscribe now.
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Key Fireman's Fund Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 4,400 |
Fireman's Fund Insurance Company Executives
14 executives listed for Fireman's Fund Insurance Company's Novato, CA location.
| Title | Name & Bio | Contact |
| President and CEO | Michael LaRocco | Network |
| EVP, CFO, and Director | Jill Paterson | Network |
| Chief Counsel | Gary Cohen | Network |
Competition
Competitive Landscape for Fireman's Fund 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 Fireman's Fund Insurance Company Competitors
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