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Vigilant Ratings and Company Information
Best Insurance Reports: 02086
Best Rating: A++
Type of Insurance Company: Property and Casualty
Name of Parent Company:
The Chubb Corporation (a publicly traded holding c
Company History: The Vigilant Insurance Company is a New York based company that is part of the New Jersey based Chubb Group of more than 20 U.S. and foreign companies that provide property and casualty insurance to businesses and individuals. The Vigilant Insurance Company was incorporated under New York law in 1939 and the present name was adopted in 1941. Vigilant's current ownership arrangement (owned by the Chubb Corporation of Warren, New Jersey) was established in 1969. Originally, Vigilant wrote general fire and marine insurance business, but it now provides a wide variety (more than 14 lines) of property and casualty coverages with homeowner's (32% of 2005 direct premium), commercial multi peril (21%) and workers' compensation (about 10%) being the 3 largest lines. Vigilant is licensed in the District of Columbia, Puerto Rico, the U.S. Virgin Islands and all states and about 28% of direct premium writings came from New York, 9% from Connecticut and 8% from California in 2005. The parent company, Chubb, operates through insurance subsidiaries with a publicly traded holding company as the ultimate parent. The 3 segments of the insurance business (commercial, specialty and personal) are also supplemented by a reinsurance-assumed operation and a commercial and residential development operation (in New Jersey and central Florida) conducted through a subsidiary, the Bellemead Development Corporation. In 2005, commercial insurance accounted for 41% of Chubb's net premiums written, specialty insurance for 25%, personal insurance for 27% and reinsurance assumed for 7%. Chubb's commercial insurance segment sells a full range of commercial coverages including multi peril, casualty, workers' compensation, property and marine. Chubb's specialty segment sells various specialized professional liability products for privately and publicly owned companies, financial institutions, professional firms and health care companies. The specialty segment also includes Chubb's surety business. The personal segment offers automobile and homeowner's coverages, especially to customers who require more choices and higher limits than available under standard policies.
Principle Sales Methods: The Chubb Corporation's insurance sales are conducted through about 5,000 independent agencies and 1,000 insurance brokers.
Homeowners Business: Homeowner's insurance from the Chubb Group of insurance companies is primarily to serve homeowner's who have "high-value" homes or distinctive or custom designed homes and so require higher limits or more options than provided in a typical policy.
Health Business: Auto insurance from the Chubb Group of insurance companies is targeted to owners of high value or collectible cars and provides a greater variety of options and higher limits than may be available in some other plans. Availability of plans varies from state to state.
Company Financial Status:
Ticker Symbol: CB
Assets & Premiums: Chubb had revenues of $14 billion in 2006 and assets at year end 2006 of $50.3 billion.
Lines of Insurance:
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY