Cincinnati Car Insurance Claims

Cincinnati Insurance and its subsidiaries sell policies related to commercial property, liability, vehicle and fire insurance; while its personal lines include homeowners, auto and liability insurance products.

Cincinnati’s auto insurance policies comprise all the basic coverage needed according to the laws of each particular state. In addition, the company offers specific extras, such as coverage for rented vehicles which (in most cases) pays out the same benefits in the case of an accident as it would for a personal car, without any deductible. Cost-saving benefits are offered for owners of more than one car, owners of antique or collector cars, and also owners of motor homes or a motorcycles.

In these cases, Cincinnati allows owners to combine all the vehicles into one policy. As with most other vehicle insurance companies, Cincinnati offers bonuses for having a clean driving record over a period of time and for combining home and vehicle policies. Its homeowner, comprehensive and collision policies offer a deductible of $500 or more in return for lower premiums.

Cincinnati Life writes life and disability income policies and annuities; while CFC Investment provides commercial financing, real estate services and leasing options to its independent agents.

History of Cincinnati Insurance Company

The Cincinnati Insurance Company (NASDAQ (GS) CINF) was established in 1950 by a group of independent insurance agents. The primary function of the company was to offer property casualty insurance. and this is still the case today. Then a holding company, Cincinnati Insurance, was founded in 1968 for the purpose of adding value to both shareholders and policy holders of The Cincinnati Insurance Company.

Cincinnati Insurance Company become Cincinnati Insurance’s lead subsidiary. It was joined four years later by The Cincinnati Casualty Company (founded 1972), then by The Cincinnati Indemnity Company (founded 1988). Both subsidiaries were designed to offer flexibility in underwriting and pricing the company’s property casualty policies.

Another subsidiary, CFC Investment Company, was formed in 1970 to offer financing and leasing services for their clients, independent agents and businesses.

In 1973, Cincinnati also began operations in the life insurance sector, offering life and disability income policies, as well as annuities for both their private and business customers. The company’s two existing life insurance companies merged in 1987, to form The Cincinnati Life Insurance Company.

CinFin Capital Management Company was established in 1998 in order to provide asset management services to the private sector, corporations and institutions with a minimum of $1 million in assets.

Financial Position of Cincinnati Insurance

At the present time Cincinnati Insurance has the complimentary support of five subsidiary companies. The Cincinnati Insurance Company ensures that all their customers, whether private or commercial, have access to insurance policies written by a highly rated insurer (financial strength rating of A++ or better from AM Best).

The Cincinnati Life Insurance Company, which has been rated by AM Best as A+. Cincinnati Insurance is, based on consolidated revenues, one of America’s top 25 property casualty insurers. Cincinnati’s reports for the fiscal year ended in December 2009 show sales of $3,903 million, a one year growth of 2.1%, income growth of 0.7% and net income of $432 million. Cincinnati’s 5 year combined loss and expense ratio up to the end of 2009 was put at 95.4%, as compared to the industry’s estimated average of 98.9%.

The company has been highly rated by many institutions. Data provided by The National Association of Insurance Commissioners consistently reveal the company to have the lowest ratio of customer complaints. National Underwriter magazine, in its July 2010 edition, rated The Cincinnati Insurance Group of Companies as number 24 in the U.S., with $2.911 billion worth of net premiums as of the end of 2009.

Fortune magazine rates Cincinnati as being the 522nd largest public corporation in the U.S., with 2009 revenues listed as $3.903 billion. Forbes Global ranks the company as number 1,091 out of the top 2,000 insurance companies worldwide, based on its assets, sales, profits and market value. The combined companies employ almost 4,000 associates, 2,800 of whom are based at the company’s headquarters in Ohio, with another 1,200 being field representatives.