FCCI Specialty Insurance Company Unveils New Coverage Options
FCCI Specialty Insurance Company Launches New Insurance Lines
FCCI Insurance Group is thrilled to announce the launch of FCCI Specialty Insurance Company, marking a significant milestone with the introduction of Excess and Surplus (E&S) lines. This expansion is designed to deliver innovative coverage solutions tailored for businesses facing challenging risks.
Expanding Offerings for Unique Business Needs
This strategic enhancement of FCCI's services focuses on diverse business classes and industries, particularly those encountering hard-to-place commercial risks. Initially, FCCI Specialty will accept submissions for General Liability (GL) and Excess Liability business through its new E&S platform from appointed agents located within specified regions.
Partnership for a Modernized Approach
To ensure a seamless experience, FCCI has joined forces with Cognizant and Duck Creek Technologies to establish a modernized Policy Delivery platform. This collaboration aims to adapt swiftly to changes in the market, ultimately supporting agents and policyholders with exceptional service.
Future Plans and Market Reach
By early 2025, FCCI plans to broaden its geographical reach, allowing agents from Mid-Atlantic, Midwest, and Gulf Coast regions to submit GL and Excess Liability policies. This strategy not only enhances FCCI's market presence but also caters to a wider range of client needs.
Commitment to Customized Coverage
Tracey Pfab, FCCI's Executive Vice President and Chief Regional Officer, expressed enthusiasm for the new E&S division. "FCCI Specialty gives us the opportunity to complement our current and highly successful existing businesses while positioning us for growth with new products and customized underwriting that meet our agents' unique needs," she stated. "We're proud to share that FCCI's E&S company has earned an A (Excellent) rating from A.M. Best!"
Comprehensive Risk Management Solutions
FCCI Specialty Insurance Company is committed to providing a full spectrum of risk management options. By the second quarter of 2025, the company anticipates the introduction of Property, Inland Marine, and Crime coverage. When packaged with General Liability and Excess Liability, these offerings will ensure businesses can access a full suite of comprehensive insurance products suitable for diverse risks.
FCCI's Dedication to Evolving Needs
FCCI's foray into the E&S market reflects its dedication to evolving with the changing dynamics of various industries. By collaborating closely with appointed agents, FCCI is set to deliver exceptional service tailored to businesses requiring specialized coverage.
About FCCI Insurance Group
Established in 1959, FCCI Insurance Group specializes in providing commercial property and casualty insurance, risk control services, and surety bonds. The company operates through a network of over 551 contracted agencies and nearly 3,839 independent agents across multiple states, including Washington, D.C.
FCCI's comprehensive range of coverages includes auto, crime, cyber liability, property, general liability, inland marine, umbrella, and workers' compensation. The company has amassed $3 billion in assets and reported direct written premiums of $1.1 billion, with an impressive A (Excellent) rating from A.M. Best Company. With regional offices in various states, FCCI strives to meet the insurance needs of numerous industries, from agribusiness to retail.
Frequently Asked Questions
What is the significance of the launch of FCCI Specialty Insurance Company?
The launch represents FCCI's commitment to expanding its insurance offerings to include specialized coverage solutions for businesses facing unique risks.
How will FCCI Specialty's services impact agents?
Agents will gain access to new products and customized underwriting, enhancing their ability to serve their clients with tailored coverage solutions.
What types of coverage will be available in the future?
In addition to E&S lines, FCCI plans to roll out Property, Inland Marine, and Crime coverages by mid-2025, which will complement existing offerings.
How does FCCI ensure a modern insurance experience?
FCCI has partnered with Cognizant and Duck Creek Technologies to create a modernized Policy Delivery platform, ensuring seamless service and adaptation to market changes.
What industries does FCCI Insurance Group serve?
FCCI provides insurance across various sectors, including agribusiness, construction, manufacturing, medical, and hospitality, ensuring comprehensive risk management solutions.
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